Tom wants to invest $8,000 in a retirement fund that guarantees a return of 8.45% and is compounded monthly. Determine how many years (round to hundredths) it will take for his investment to double

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asked Jul 16, 2022 75.2k views

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Tom wants to invest $8,000 in a retirement fund that guarantees a return of 8.45% and is compounded monthly. Determine how many years (round to hundredths) it will take for his investment to double

Mathematics
college

MatuDuke asked

by MatuDuke

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1 Answer

7 votes

Answer:

The answer is 1 year Tommy will take 1 year to his investment

Explanation:

SuddenHead answered Jul 20, 2022

by SuddenHead

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