# SOLUTION: How long does it take \$1500 to double if its invested at 4% interest, compound monthly?

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 Question 538738: How long does it take \$1500 to double if its invested at 4% interest, compound monthly?Answer by ankor@dixie-net.com(15656)   (Show Source): You can put this solution on YOUR website!How long does it take \$1500 to double if its invested at 4% interest, compound monthly? : Let t = time in years for this to happen Use the compound interest formula : 1500(1+)^(12t) = 3000 : (1.00333)^(12t) = : (1.00333)^(12t) = 2 Use logs here 12t = : 12t = 208.3 t = t = 17.36 years to double at 4%