Asked by Geo

Invest $2800 @ 4.7% a year (compound). How long it will take to double the amount invested to the nearest tenth of the year?

7 years ago

Answered by bobpursley

so the question is when is interest compounded? annually, daily, monthly? every 10th of the year? It matters.

7 years ago

Answered by Steve

assuming annual compounding, you want t such that

1.047^t = 2

7 years ago

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