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stiks02 [169]
4 years ago
12

If the interest earned by a cd is compounded quarterly which rule is most accurate when calculating how long it will take the mo

ney invested in the cd to double
Mathematics
2 answers:
Hunter-Best [27]4 years ago
7 0

Answer:rule of 72

Step-by-step explanation:

pashok25 [27]4 years ago
4 0
If the interest earned by a cd is compounded quarterly and the money invested is doubled after a certain time. So, we are given an interest rate, an initial amount and a final amount. 

First, convert the interest rate to per yer compounded yearly. Next, use this formula to solve for the number of years to double the amount:

F = P (1+i)^n
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