benclayiii benclayiii
  • 06-04-2017
  • Mathematics
contestada

A sum of money is invested at 12% compounded quarterly. About how long will it take for the amount of money to double?

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 07-04-2017
2=(1+0.12/4)^4t
Solve for t
t=5.9 years
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