megankate38 megankate38
  • 01-03-2017
  • Mathematics
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How long does it take for an investment to double in value if it is invested 8% per annum compounded monthly? Compounded continuously? It's number 29.

How long does it take for an investment to double in value if it is invested 8 per annum compounded monthly Compounded continuously Its number 29 class=

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 01-03-2017
2p=p(1+0.08/12)^12t
T=[log(2)/log(1+0.08/12)]/12
T==8.7 years
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