SOLUTION: If money is worth 12% per annum, compounded monthly, how long will it take the principal P to become four times the original value?
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Question 1018505: If money is worth 12% per annum, compounded monthly, how long will it take the principal P to become four times the original value?
Answer by FrankM(1040) (Show Source): You can put this solution on YOUR website!
1.01^X=2
X=(log2/log1.01) = 69.66 months
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