SOLUTION: How long will it take for $1,600 to double if it is invested at 11% annual interest compounded 4 times a year? Enter in exact calculations or round to 3 decimal places.
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: How long will it take for $1,600 to double if it is invested at 11% annual interest compounded 4 times a year? Enter in exact calculations or round to 3 decimal places.
Log On
Question 871377: How long will it take for $1,600 to double if it is invested at 11% annual interest compounded 4 times a year? Enter in exact calculations or round to 3 decimal places.
You can put this solution on YOUR website! Principal P = 1600
Amount= 3200
n= number of periods 1
compounded (t) 4
Rate = 11 0.11
n = ln(FV / PV) / ln(1 + r) (r/q))
