Question

david invest $10,000 in a CD that pays 8% compounded quarterly. how long will it take his investment to double

Answer 1

Explanation:

1. Write a equation

`10,000(1+(0.08)/(4))^4^x`

2. plug in 20,000 to y

`20,000=10,000(1+(0.08)/(4))^4^x`

3. Solve