Answer: A
Step-by-step explanation: Took the test |
\/
**MARKING BRAINLIEST PLEASE HELP**
1 answer:
You might be interested in
Answer:
7.87 years
Step-by-step explanation:
#First we determine the effective annual rate based on the 9% compounded semi annual;
#We then use this effective rate in the compound interest formula to solve for n. Given that the principal doubles after 2 yrs:
Hence, it takes 7.87 years for the principal amount to double.