Question

when working with compound interest does doubling the time of an investment double the amount of interest earned? explain with words and an example.

Answer 1

Por exemplo, um capital de US$ 600,00
taxa de juros = 2% ao mês
Montante: M = C*(1+i)^t
M = 600*(1+0,02)^2
M = 600*(1,02)^2
M = 600*1,0404
M = 624,24