If $2000 is invested at 10% pa compounded annually, how many years will it take to double in value?
Question
Solution 1
To solve this problem, we can use the formula for compound interest, which is:
A = P (1 + r/n)^(nt)
Where: A = the amount of money accumulated after n years, including interest. P = principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that intere Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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