Investing

Question 6 • OK-Algebra II B-CR

Which statements about doubling an investment are true? Check all that apply.

Answer

An investment of $5,000 will double in 6 years at an annual compound interest rate of 12%.

An investment of $1,000 will double at an annual compound interest rate of 18% in 6 years.

An investment of $350 will double in 9 years at a compound interest rate of 8%.

An investment of $2,000 will double at a simple interest rate of 5% in 20 years.

An investment of $700 will double in 12 years at a simple interest rate of 6%.

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