9. A recent advertisement in the financial section of a magazine carried the following claim: "Invest your money with us at 10 percent, compounded annually, and we guarantee to triple your money sooner than you imagine." Ignoring taxes, how long would it take to triple your money at a simple rate of 10 percent, compounded annually? a.) Approximately 3.5 years b. Approximately 5 years c. Approximately 7 years d. Approximately 10 years e. Exactly 14 years

9. A recent advertisement in the financial section of a magazine carried the following claim: "Invest your money with us at 10 percent, compounded annually, and we guarantee to triple your money sooner than you imagine." Ignoring taxes, how long would it take to triple your money at a simple rate of 10 percent, compounded annually? a. Approximately 3.5 years b. Approximately 5 years c. Approximately 7 years d. Approximately 10 years e. Exactly 14 years