How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.6: Other Types Of Equations
Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...
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Question 5
How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?
a. less than 28 months
b. greater than 28 months
c. exacity 28 months.
O a
Ob
O C
L
Click Submit to complete this assessment.
acer
V
31°C
Transcribed Image Text:Search Question 5 How long it would take to double an invesment if the rate of interest is 10% compounded quarterly? a. less than 28 months b. greater than 28 months c. exacity 28 months. O a Ob O C L Click Submit to complete this assessment. acer V 31°C
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