how long does it take $1700 t o double if it is invested at 5% interest, compound monthly? round your answer to the neatest tenth
A) 7.9yr B) 3.9 yr C) 4.8yr D)13.9 yr

Question

how long does it take $1700 t o double if it is invested at 5% interest, compound monthly? round your answer to the neatest tenth
 A) 7.9yr B) 3.9 yr C) 4.8yr D)13.9 yr

hero · Answer

How come no one has helped you yet?

anonymous · Answer

not yet

anonymous · Answer

i need the answer

hero · Answer

OMG, the all-seeing eye!

hero · Answer

Don't you want someone to explain the answer to you?

anonymous · Answer

no... i just need the answer

hero · Answer

Are you just checking your answer?

anonymous · Answer

yes

hero · Answer

What answer did you get...I'll verify it..

anonymous · Answer

i think B but im not sure

anonymous · Answer

5% is the monthly rate?
but from my calculation, it needs 14.28 periods to double it.

hero · Answer

13.89 which is approximately 13.9 years

hero · Answer

If you want calculations, I can provide those too