If you invest $10,000 at an annual rate of 5% compounded quarterly, how long will it take to double your money?

Andre Kirpitch asked Apr 1, 2023

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24 votes

Andre Kirpitch asked Apr 1, 2023

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11 votes

Answer:

13.949 years

Explanation:

Quarterly interest in decimal form = .05/4 = .0125

2 would be double n =periods ( periods/4 = year)

2 = (1+.0125)^n solve for n = 55.79 peiods =13.949 years

Hegez answered Apr 5, 2023

by Hegez

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