Calculate the number of years for an investment of $100 to double at an interest rate of 7.2% for each compounding period.

a) annually
b) semi-annually
c) monthly
d) daily

Question

Calculate the number of years for an investment of $100 to double at an interest rate of 7.2% for each compounding period. 

a) annually     
b) semi-annually    
c) monthly    
d) daily

anonymous · Answer

You can do these questions I thought? At least make an attempt at it.

anonymous · Answer

a) 2000=1000(1+0.072/1)^1x

anonymous · Answer

right?

anonymous · Answer

Well if you are following the formula yes, now just use logrithms to solve for x and you are set

anonymous · Answer

https://www.wolframalpha.com/ I recommend using this site to play around with mathematics till you get the questions down