Say you have invested $20000 at a yearly interest rate of 19.5% compounded monthly. How many years will it take for your investment to double in size?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Say you have invested $20000 at a yearly interest rate of 19.5% compounded monthly. How many years will it take for your
investment to double in size?
Transcribed Image Text:Say you have invested $20000 at a yearly interest rate of 19.5% compounded monthly. How many years will it take for your investment to double in size?
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