Solve the problem.
-Find out how long it takes a $3000 investment to double if it is invested at 8% compounded monthly. Round to the nearest tenth of a year. Use the formula
A) 8.7 yr
B) 9.1 yr
C) 8.9 yr
D) 8.5 yr

Question

Solve the problem.
-Find out how long it takes a $3000 investment to double if it is invested at 8% compounded monthly. Round to the nearest tenth of a year. Use the formula 
A) 8.7 yr 
B) 9.1 yr 
C) 8.9 yr 
D) 8.5 yr

Quizplus · Accepted Answer

The Answer of Solve the problem.
-Find out how long it takes a $3000 investment to double if it is invested at 8% compounded monthly. Round to the nearest tenth of a year. Use the formula 
A) 8.7 yr 
B) 9.1 yr 
C) 8.9 yr 
D) 8.5 yr

Solve the Problem. -Find Out How Long It Takes a $3000 Investment to $3000