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FromTheMoon
[43]
2 years ago
15
How long does it take for an investment to double in value if it is invested 8% per annum compounded monthly? Compounded continu
ously? It's number 29.
Mathematics
Answer
Comment
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1
answer:
Fynjy0
[20]
2 years ago
8
0
2p=p(1+0.08/12)^12t
T=[log(2)/log(1+0.08/12)]/12
T==8.7 years
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