You invest 20,000$ at 5.5% compounded semiannually. When will your money double?

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asked Jul 11, 2018 128k views

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You invest 20,000$ at 5.5% compounded semiannually. When will your money double?

Mathematics
high-school

Mpartel asked

by Mpartel

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2p=p(1+0.055/2)^2t
t=(log(2)÷log(1+0.055÷2))/2=12.8 years

JoAMoS answered Jul 15, 2018

by JoAMoS

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