How Long, to the Nearest Year, Will It Take an Investment

How long, to the nearest year, will it take an investment in U.S. to double its value if the interest is compounded every six months Please round the answer to the nearest year. $$\begin{array} { | l | l | l | l | l | l | } \hline \text { Country } & \text { U.S. } & \text { Japan } & \text { Canada } & \text { Korea } & \text { Australia } \\\hline \text { Yield } & 5.3 \% & 1.5 \% & 5.2 \% & 5.4 \% & 6.0 \% \\\hline\end{array}$$

A) 14 years
B) 16 years
C) 13 years
D) 8 years
E) 15 years

Correct Answer:

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