CashOut55 CashOut55

09-06-2022
Mathematics

contestada

How long (to the next whole year) will it take
money to double if it is invested at 20% compounded
anually?

Respuesta :

reinhard10158 reinhard10158

09-06-2022

Step-by-step explanation:

2x = x1.2^n

2 = 1.2^n

log1.2(2) = n

log10(2)/log10(1.2) = n = 3.801784017...

so, rounded to the next whole year it takes 4 years.

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