benclayiii benclayiii

06-04-2017
Mathematics

contestada

A sum of money is invested at 12% compounded quarterly. About how long will it take for the amount of money to double?

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Aliwohaish12 Aliwohaish12

07-04-2017

2=(1+0.12/4)^4t
Solve for t
t=5.9 years

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