Jasper has $1,000 invested at 8% interest. how long will it take him to double his money?

To answer the question above as to how long it will take for Jasper to double is money:
If the is on monthly basis, it will take 25 months. See calculation below:
Interest: $1,000 x 0.08 = $80 x 25 months = $2000.

Endowment Effect

Explanation:

The endowment effect simply put, describes that consumers tends to value products they own more than the ones they don't own, even if they are both the same. In endowment effect emotions is a major determining factor, as the consumer is believed to be more emotionally attached to their properties.