How long will it take for $2,700 to double if it is invested at 12% annual interest compounded 12 times a year? Enter in exact calculations to 3 decimal places. It will take years to double. Preview How long will it take if the interest is compounded continuously? Compounded continuously, it would only take years. Preview round

How long will it take for $2,700 to double if it is invested at 12% annual interest compounded 12 times a year? Enter in exact calculations to 3 decimal places. It will take years to double. Preview How long will it take if the interest is compounded continuously? Compounded continuously, it would only take years. Preview round

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Hello. I am stuck on this question, how can i solve it using formulas How much will you have at the end of 20 years if you invest $100 at the end of themonth starting a month from today and subsequently you invest 0.6% more each month.The interest rate is stated as an annual rate of 15% compounded monthly?
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