47
RCMultiple Choice

Cumulative Exam — Cumulative exam

Question 47 • Mathematical Models with Applications - MA4072 CR

You invest $4000 in a bank account with 5% interest compounded annually. You are wondering how long it would take for your money to double. What equation will you use to solve the problem and how long will it take for your money to double?

Question illustration
Answer
A
; 14.2 years
B
; 2 years
C
; 7 years
D
; 28 years
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