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

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%.

Question

Mathematics

Nick Lane

29 September, 10:30

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

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%.

+5

Answers (2)

Know the Answer?

Johnathon James · Answer 1

An investment of $1000 will double at an annual compound interest rateof 18% in 6 years (True)

An investment of $2000 will double at a simple interest rate of 5% in 20 years (True)

Marcel Franklin · Answer 2

Marcel Franklin 29 September, 13:07

0

this is the correct answer