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Initially invested $800 @ interest rate of 9%. How many years before the investment doubles?

User Kishma
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1 Answer

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to solve this problem, you need to use this formula:

A=P(1+r/n)n⋅t

A = total amount

P = principal or amount of money deposited,

r = annual interest rate

n = number of times compounded per year

t = time in years

but to save you time, it takes you 8 years and 16 days

User David Bodow
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