Problem 1: How long does it take to double an investment of $10,000 having the rate of 10% per annum? a) If the investment pays simple interest. b) If the investment pays compound interest.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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Problem 1:
How long does it take to double an investment of $10,000 having the rate of 10% per annum?
a) If the investment pays simple interest.
b) If the investment pays compound interest.
Transcribed Image Text:Problem 1: How long does it take to double an investment of $10,000 having the rate of 10% per annum? a) If the investment pays simple interest. b) If the investment pays compound interest.
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