Question 1160813
4%/ yr compunded quarterly. How long will it take to double the value of the investment.
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The amount doesn't matter.
4%/year ---> 1%/quarter
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FV = future value
PV = present value
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FV = 2*PV = PV*(1.01)^q  --- q = # of quarters
2 = 1.01^q
log(2) = log(1.01^q) = q*log(1.01)
q = log(2)/log(1.01)