For a sum of P8000.00 to double itself in 12 years and 9 months, what must be the rate of interest compounded quarterly? * O A. 4.56% B. 5.47% C. 13.06% D. 54%

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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O i, ii, and ii
For a sum of P8000.00 to double itself in 12 years and 9 months, what must be
the rate of interest compounded quarterly? *
O A. 4.56%
B. 5.47%
C. 13.06%
D. 54%
A group of SLU Mathematics faculty members have been on vacation for so
long that they've forgolen the day of the week. The following conversation
ensues.
Transcribed Image Text:O i, ii, and ii For a sum of P8000.00 to double itself in 12 years and 9 months, what must be the rate of interest compounded quarterly? * O A. 4.56% B. 5.47% C. 13.06% D. 54% A group of SLU Mathematics faculty members have been on vacation for so long that they've forgolen the day of the week. The following conversation ensues.
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