Approximately 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 years
B) 14 years
C) 22 years
D) 25 years

Question

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The Answer of Approximately 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 years
B) 14 years
C) 22 years
D) 25 years

Approximately How Long Must One Wait (To the Nearest Year)for