Asked by Ciara

how long will it take for the investment to double at an interest rate 1.7% if the interest is compunded quarterly?hint : you my assume that $100 were invested
Answered by scott
let y = years

2 = [1 + (.017 / 4)]^(y / 4)

y / 4 = log(2) / log[1 + (.017 / 4)]
Answered by Ciara
is the answer 163 years?
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