SOLUTION: If a $25 investment is worth $50 today, how long must that $25 have been invested at 6% interest compounded twice a year?
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Question 731580: If a $25 investment is worth $50 today, how long must that $25 have been invested at 6% interest compounded twice a year?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
If a $25 investment is worth $50 today, how long must that $25 have been invested at 6% interest compounded twice a year?
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50 = 25(1+(0.06/2))^(2t)
2 = (1.03)^2t
2t = log(2)/log(1.03)
2t = 23.45
t = 11.72 years
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Cheers,
Stan H.
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