SOLUTION: c.) Interest rate is critical to the speed at which your investment grows. If $1 is invested at 2%, it takes approximately 34.9 years to double. If $1 is invested at 5%, it takes a
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-> SOLUTION: c.) Interest rate is critical to the speed at which your investment grows. If $1 is invested at 2%, it takes approximately 34.9 years to double. If $1 is invested at 5%, it takes a
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Question 332685: c.) Interest rate is critical to the speed at which your investment grows. If $1 is invested at 2%, it takes approximately 34.9 years to double. If $1 is invested at 5%, it takes approximately 14.2 years to double. Use table 10-1 to determine how many years it takes $1 to double if invested at 10%, and then at 12%.
d.) At what interest rate would you need to invest to have your money double in 10 years?
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