Question

david invest $10,000 in a CD that pays 8% compounded quarterly. how long will it take his investment to double

Answer 1

Answer:

Step-by-step explanation:

1. Write a equation

$10,000(1+\frac{0.08}{4})^4^x$

2. plug in 20,000 to y

$20,000=10,000(1+\frac{0.08}{4})^4^x$

3. Solve