<PRE><B>Question 943187</B>
How long would it take an investment to double under each of the following conditions?
 (a) Interest is 4.4% compounded monthly. (Enter your answer as a whole number of years and months.)
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A(t) = P(1+(r/n))^(nt)
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2P = P(1+(0.044/12))^(12*t)
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1.00367^(12t) = 2
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12t = log(2)/log(1.00367) = 189.21
t = 189.21/12 = 15.77 = 15 years 9 mths
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Cheers,
Stan H.
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