Use the formula A=(1+r/n)^nt to solve the compound interest problem.
Find how long it takes for 900$ to double if it is invested at 6% interest compounded monthly.
The money will double in value in approximately ? years.
(Do not round until the final answer. Then round to the nearest tenth as needed.)

Question

03-12-2022
Mathematics

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Use the formula A=(1+r/n)^nt to solve the compound interest problem.
Find how long it takes for 900$ to double if it is invested at 6% interest compounded monthly.
The money will double in value in approximately ? years.
(Do not round until the final answer. Then round to the nearest tenth as needed.)

Sagot :

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