document.write( "Question 327911: If $1000 is invested and is compounded monthly, what rate must be charged for the amount to double in 4 years? \n" ); document.write( "

Algebra.Com's Answer #234869 by Fombitz(32388) $\"\"$ $\"About$

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$\"F=P%281%2Bi%29%5Et\"$
\n" ); document.write( " $\"2000=1000%281%2Bi%29%5E48\"$
\n" ); document.write( " $\"1%2Bi=2%5E%281%2F48%29\"$
\n" ); document.write( " $\"i=2%5E%281%2F48%29-1\"$
\n" ); document.write( " $\"i=1.014545-1\"$
\n" ); document.write( " $\"i=0.0145\"$
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\n" ); document.write( "1.45% monthly rate.\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

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