How long will it take any amount to double if it is invested at 6% compounded semi-annually? Round to the nearest tenth.
Added by Brian O.
Step 1
The formula for compound interest is given by: A = P(1 + r/n)^(nt) Where: A = the future value of the investment P = the principal amount (initial investment) r = the annual interest rate (in decimal form) n = the number of times the interest is compounded per Show more…
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