At an interest rate of 9 percent, an investment of $1 would double in 8.04 years....

At an interest rate of 9 percent, an investment of $1 would double in 8.04 years. How long to the nearest year would it take an investment of $1 to grow four fold (4 times) if the interest rate was only 4 percent?

	a.	12 years
	b.	24 years
	c.	36 years
	d.	48 years
	e.	96 years

Expert Solution

jeff jeffy answered 11 months ago

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