How long will it take money to double if it is invested at 6% compounded monthly? 9%

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How long will it take money to double if it is invested at 6% compounded monthly? 9% compounded monthly? (Round up to the next-higher month if not exact.)

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College Mathematics For Business Economics Life Sciences And Social Sciences

ISBN: 9780321945518

13th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen

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Question Posted: Dec 09, 2023 08:52 PM

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How long will it take money to double if it is invested at 6% compounded monthly? 9%

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To determine the time it takes for money to double we can use the formula for compound interest For ...View the full answer

College Mathematics For Business Economics Life Sciences And Social Sciences

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