SOLUTION: Find out how long it takes a $3300 investment to double if it is invested at 7% compounded semiannually (n = 2). Round to the nearest tenth of a year. Use the compound interest for

Question 1156939: Find out how long it takes a $3300 investment to double if it is invested at 7% compounded semiannually (n = 2). Round to the nearest tenth of a year. Use the compound interest formula.
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Find out how long it takes a $3300 investment to double if it is invested at 7% compounded semiannually (n = 2). Round to the nearest tenth of a year.
================
Use the compound interest formula. --- Really? I can't use a Ouija board?
==================
Int = 3.5% per period
------------
FV = PV*(1 + 0.035)^t = 2*PV
Solve for t (t = # of periods)
-------
Notice that the PV (Present Value) is not relevant.

RELATED QUESTIONS
Find out how long it takes a $2500 investment to double if it is invested at 9%... (answered by mananth)

Find out how long it takes a $3000 investment to double if it is invested at 8%... (answered by jorel555,MathTherapy)

please help me slove this problem Slove the problem. Find out how long it takes a... (answered by josmiceli)

How long would it take a $3000 investment to double if it is invested at 7% compounded... (answered by stanbon)

Find out how long it takes a $3500 investment to earn $300 interest if it is invested at... (answered by solver91311)

Find how long it takes a $2800 investment to double if it is invested at 9% compounded... (answered by ikleyn)

Given A=P(1+r/n)^nt find how long it takes for an investment to double if it is invested... (answered by stanbon)

Find out how long it takes a $3000 investment to earn $500 interest if it is invested at... (answered by harpazo)

Find out how long it takes for an investment of $2500 to double if it is invested at 8%... (answered by stanbon)