Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

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.

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.