15. If you make a single deposit into an account, at what annual interest rate compounded yearly should you invest if you would like to double your investment in 6 years? Choose the numeric value that most closely approximates the answer: Possibilities: (a) 11.792% (b) 12.246% (c) 10.377% (d) 12.679% (e) 11.552%

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PA: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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15. If you make a single deposit into an account, at what annual interest rate compounded yearly should
you invest if you would like to double your investment in 6 years?
Choose the numeric value that most closely approximates the answer:
Possibilities:
(a) 11.792%
(b) 12.246%
(c) 10.377%
(d) 12.679%
(e) 11.552%
Transcribed Image Text:15. If you make a single deposit into an account, at what annual interest rate compounded yearly should you invest if you would like to double your investment in 6 years? Choose the numeric value that most closely approximates the answer: Possibilities: (a) 11.792% (b) 12.246% (c) 10.377% (d) 12.679% (e) 11.552%
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