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FinanceQ&A LibraryHow long would it take an investment to double under each of the following conditions?(a) Interest is 3.3% compounded monthly. (Enter your answer as a whole number of years and months.)254X years and 4months(b) Interest is 7% compounded continuously. (Round your answer to three decimal places.)6.5X yearsQuestion

Asked Sep 24, 2019

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Step 1

**Part A and B: **

**Calculation of Duration of Investment:**

a. The duration of investment is **21 years** and **0.033 months**.

b. The duration of investment is **9.902 years**.

**Excel Spreadsheet:**

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