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FromTheMoon [43]
3 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
1 answer:
Fynjy0 [20]3 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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