aaliyahbarnett1 aaliyahbarnett1
  • 19-04-2022
  • Mathematics
contestada


If an investment has a 5% annual interest rate and it is compounded
monthly, how many years will it take to double in value?

Respuesta :

djnelson051408 djnelson051408
  • 19-04-2022

Answer:

2 years

Step-by-step explanation:

If it is annunal I think it would be 2 years

5 x annual year (year) =2

Answer Link

Otras preguntas

William deposited 375$ into a bank account earning 2.1% simple interest. what is his new account balance be in 12 years​
What was the Land Ordinance of 1787's view towards Native Americans? It allowed Americans to settle on any land they wanted, even land owned by Native Americans
what phrase best defines mood for literature
Select the correct answer. If k + 45 = 60, what is k? A. 12 B. 15 C. 25 D. 105 E. 110
I need help please.
Part 7: The Strange Case of Dr. Jekyll and Mahyuer commeResolutionPre-TestActiveA resolution isa struggle between opposing forcesa difficult event or situationt
Multiply (4x-2)(×^2-5×+3)
The pacific plate is an oceanic tectonic plate. How did a hot spot and the pacific plate interact to form the hawaiian islands?
The part of the eye that closes and opens to let light in is the________ .
What is the solution of the equation 3x – 1 = 7? Round your answer to the nearest ten-thousandth