How long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value if the investment earns 8% compounded annually?
A. 9
B. 14
C. 22
D. 25
Answer:B
How long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value if the investment earns 8% compounded annually?
A. 9 B. 14 C. 22 D. 25