Answered

Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Our Q&A platform provides quick and trustworthy answers to your questions from experienced professionals in different areas of expertise. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

How many years it will take to double your money if your
beginning balance is $1,000.00 and earns 10% interest
compounded quarterly?

Sagot :

Answer:

Step-by-step explanation:

The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.