document.write( "Question 1160547: How long will it take for $600 to double if it is invested at 9% annual interest compounded 3times a year? Enter in exact calculations or round to 3 decimal places. \n" ); document.write( "
Algebra.Com's Answer #783924 by ikleyn(52781)![]() ![]() You can put this solution on YOUR website! .\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Since the compounding is 3 times per year (which means every 4 months), \n" ); document.write( "the time period MUST BE a multiple of 4 months.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "So the final and UNIQUELY correct answer is 8 (eight, EIGHT) FULL YEARS,\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "and there is NOTHING TO ROUND in this problem.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "-----------------\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Notice (AND IT IS EXTREMELY IMPORTANT) that in this problem the instruction \n" ); document.write( "to round to 3 decimal points DOES NOT MAKE any sense.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "This instruction is written by the person who didn't think on the problem any single minute (!)\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |