Asked by Keonn`a:please help.
How long does it take for an amount of money P to double itself if its invested at 8℅ interest compounded 4 times a year? Round your answer to 2 decimal places.
Answers
Answered by
Steve
(1+.08/4)^(4t) = 2
t = 8.75 years
t = 8.75 years
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