At 15 interest compounded annually, approximately how long will ...

[saliriagwu]

At 15 interest compounded annually, approximately how long will it take Walter to double his money?
 
  A) About five years
  B) About three years
  C) About seven years
  D) About fifteen years
  E) About fifty years

Question 2

Which of the following would be an example of the transactions motive for a firm holding cash
  balances?
 
  A) take advantage of an anticipated decline in the price of raw materials
  B) purchase of inventory
  C) anticipating a downturn in the economy
  D) investing excess cash balances

[mjbamaung]

Answer to Question 1

A

Answer to Question 2

B

[saliriagwu]

Great answer, keep it coming

[strudel15]

Thanks for the timely response, appreciate it