Question: Determine the time necessary for P dollars to double when it is invested at interest rate r compounded annually, monthly, daily, and continuously. (Round your

Determine the time necessary for P dollars to double when it is invested at interest rate r compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.)

r = 11%

(a) annually--(answer) yr

(b) monthly--(answer) yr

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