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A) Find the interest rate needed for an investment of $8,000 to double in 14 yr if interest is compounded monthly. B)How long will it
A) Find the interest rate needed for an investment of $8,000 to double in 14 yr if interest is compounded monthly.
B)How long will it take for an investment of $10,000 to grow to $12,500 if the investment earns interest at the rate of 8%/year compounded annually?
C)How long will it take for an investment of $15,000 to double if the investment earns interest at the rate of 7%/year compounded continuously?
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