# If \$7,000 is invested at 6% per year compounded monthly

Mar 2nd, 2015
Anonymous
Category:
Mathematics
Price: \$5 USD

Question description

If \$7,000 is invested at 6% per year compounded monthly, the future value S at any time t (in months) is given by

S = 7,000(1.005)t.

How long before the investment doubles?

(Top Tutor) James M847
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