Register
how long does it take for an investment to double in value if it is invested at 8% per annum compounded monthly? compounded continuously?
26.5k views
3 votes
how long does it take for an investment to double in value if it is invested at 8% per annum compounded monthly? compounded continuously?

User Pavan T
by
5.7k points

1 Answer

4 votes
2p=p(1+0.08/12)^12n
2=(1+0.08/12)^12n
Log(2)=12n*log(1+0.08/12)
12n=log(2)/log(1+0.08/12)
n=104.32/12
N=8.7 years
Continuously
2p=pe^rt
Now your turn solve with math to get the answer using the equation...if you have problem with that just tell me
User Boris Prohaska
by
6.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.6m questions

8.8m answers

Other Questions

What is the least common denominator of the four fractions 20 7/10 20 3/4 18 9/10 20 18/25
arlos has $690,000 he wants to save. If the FDIC insurance limit per depositor, per bank, is $250,000, which of these ways of distributing his money between three banks will guarantee that all of his money
Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
What is the initial value and what does it represent? $4, the cost per item $4, the cost of the catalog $6, the cost per item $6, the cost of the catalog?
What is distributive property ?
Link Copied!