abel4071 abel4071
  • 04-05-2024
  • Business
Answered

How long will it take for $3,500 to double if it is invested at 7% annual interest compounded 2 times a
year? Enter in exact calculations or round to 3 decimal places.
It will take
years to double.
How long will it take if the interest is compounded continuously?
Compounded continuously, it would only take
years.
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