document.write( "Question 325021: determine how much time is required for an investement to double in value if interest is earned at the rate of 6.25 % compounded annually? \n" ); document.write( "
Algebra.Com's Answer #232750 by galactus(183)![]() ![]() You can put this solution on YOUR website! The formula for interest is \r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Since the problem asks for how long to double, then A=2P.\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( "r=.0625 and n=1\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( "or about 11 years, 158 days \n" ); document.write( " |