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Need work shown please Use A = P1+ where: A = the amortized amount (total loan/investment amount over the life of the loan/investment) P =
Need work shown please
Use A = P1+ where: A = the amortized amount (total loan/investment amount over the life of the loan/investment) P = the initial amount of the loan/investment r = the annual rate of interest n = the number of times interest is compounded each year t = the time in years Find how long it takes $1,200.00 to double if it is invested at 2% compounded annually. It will take .356 years. (Round answer to 3 decimal places.)Step by Step Solution
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