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OpenStudy (anonymous):
How long will it take to double an amount invested at 8% compunded quarterly?
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OpenStudy (anonymous):
I mean 9% ..
sorry.
OpenStudy (anonymous):
A=P(1+0.08/4)^4
OpenStudy (anonymous):
That's the answer???
OpenStudy (anonymous):
you have a number for plug in?
OpenStudy (anonymous):
P for principlal money you deposit
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OpenStudy (anonymous):
I'm trying to find P??? I don't have any more numbers..
OpenStudy (anonymous):
sorry you said 9%
OpenStudy (anonymous):
if you don have number for P think teacher only need the equation, not the answer number
OpenStudy (anonymous):
A=P(1+0.09/4)^4
that all
OpenStudy (anonymous):
if you have A (total ) you can find pricipal amout, or you have principal amout ,you can find the total
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OpenStudy (anonymous):
So it's 1.009030421?
OpenStudy (anonymous):
how you get this number 1.009030421?
OpenStudy (anonymous):
From
(1+0.09/4)^4
OpenStudy (anonymous):
you should check it you missing one more number?
OpenStudy (anonymous):
I am not. That's the given problem.
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OpenStudy (anonymous):
I missing you said double
2A =P (1+0.09/4)^4
but still not enough information,you may repost question again to see some one have differen answer
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