Use the formula to find the doubling time t, in years, for an investment at r% compounded n times per year. Suppose you make an investment of $1,300 at interest rate 11% compounded quarterly. How long will it take for your investment to double? Round your answer to two decimal places.
A) 2.13 years
B) 12.78 years
C) 3.19 years
D) 3.32 years
E) 6.39 years

Question

Use the formula  to find the doubling time t, in years, for an investment at r% compounded n times per year. Suppose you make an investment of $1,300 at interest rate 11% compounded quarterly. How long will it take for your investment to double? Round your answer to two decimal places. ​
A) 2.13 years 
B) 12.78 years 
C) 3.19 years 
D) 3.32 years 
E) 6.39 years

Quizplus · Accepted Answer

The Answer of Use the formula  to find the doubling time t, in years, for an investment at r% compounded n times per year. Suppose you make an investment of $1,300 at interest rate 11% compounded quarterly. How long will it take for your investment to double? Round your answer to two decimal places. ​
A) 2.13 years 
B) 12.78 years 
C) 3.19 years 
D) 3.32 years 
E) 6.39 years

Use the Formula to Find the Doubling Time T