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A sum of money is invested at 12% compounded quarterly. About how long will it take for the amount of money to double?
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A sum of money is invested at 12% compounded quarterly. About how long will it take for the amount of money to double?
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Nov 23, 2018
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A sum of money is invested at 12% compounded quarterly. About how long will it take for the amount of money to double?
Mathematics
high-school
Oybek
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2=(1+0.12/4)^4t
Solve for t
t=5.9 years
Transient Closure
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Nov 28, 2018
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