Solve the problem.The number of quarters needed to double an investment when a lump sum is invested at 10%, compounded quarterly, is given by n = log1.025 2. Use the change of base formula to find n, rounded to the nearest tenth.

A. 28.1 quarters
B. 31.1 quarters
C. 33.1 quarters
D. 24.1 quarters


Answer: A

Mathematics

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