Statistics Solutions

[Solution] Future value tables Use the future value interest factors in Appendix Table A-1 in each of the cases shown in the table on the facing page to

Question: Future value tables Use the future value interest factors in Appendix Table A–1

in each of the cases shown in the table on the facing page to estimate, to the nearest

year, how long it would take an initial deposit, assuming no withdrawals,

  1. To double.
  2. To quadruple.

Case Interest rate

A 7%

B 40

C 20

D 10

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