document.write( "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? \r
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Algebra.Com's Answer #380493 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

 
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document.write( "Hi,
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document.write( "how long will it take money to double if it is invested into an account that earns 7.5% compounded daily? 
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document.write( "Using the compound Interest Formula: A =    
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document.write( " A/P = 2 = 
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document.write( " ln2 =  365tln(1+.075/365) 
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document.write( " ln2 /365 = tln(1+.075/365)= .0002t
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document.write( " .0019/.0002 = t 
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document.write( " t = 9.495 yrs \n" );
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