SOLUTION: The question asks how long will it take money to double if it is invested into an account that earns 7.5% compounded daily? I just want to know how you would figure that out?

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 Question 602921: The question asks how long will it take money to double if it is invested into an account that earns 7.5% compounded daily? I just want to know how you would figure that out?Answer by ewatrrr(10682)   (Show Source): You can put this solution on YOUR website! Hi, how long will it take money to double if it is invested into an account that earns 7.5% compounded daily? Using the compound Interest Formula: A = A/P = 2 = ln2 = 365tln(1+.075/365) ln2 /365 = tln(1+.075/365)= .0002t .0019/.0002 = t t = 9.495 yrs