Asked by Chirag Berry on May 01, 2024
Verified
If an investment doubles in nine years, how long will it take to quadruple (at the same rate of return)? (This problem does not require any detailed calculations.)
Rate of Return
The increase or decrease in value of an investment during a specific time frame, represented as a proportion of the investment's initial cost.
- Evaluate the performance of investments through the comparison of returns from diverse investment choices.
- Apply financial knowledge to make informed decisions regarding investment and loan options.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
18 yrs. (The investment doubles from $100 to $200 in x years. It will double again in another x years.) The second doubling represents earnings of $400 - $200 = $200.
Learning Objectives
- Evaluate the performance of investments through the comparison of returns from diverse investment choices.
- Apply financial knowledge to make informed decisions regarding investment and loan options.