A sum of money is doubled in 7 years at the compound interest rate. In how many years it will be8 times its actual value
Question
Solution 1
To solve this problem, we need to understand the concept of compound interest.
Given that the sum of money is doubled in 7 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where: A = the amount of money accumulated after n years, including interest. P = the principal amou Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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