Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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Question
**How long does it take for an investment to double in value if it is invested at 11% compounded monthly? Compounded continuously?** 1. At 11% compounded monthly, the investment doubles in about ____ years. *(Round to two decimal places as needed.)* 2. At 11% compounded continuously, the investment doubles in about ____ years. *(Round to two decimal places as needed.)* This text invites users to calculate the time required for an investment to double at an interest rate of 11%, with options for both monthly and continuous compounding. Users should round their answer to two decimal places for accuracy.
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Transcribed Image Text:**How long does it take for an investment to double in value if it is invested at 11% compounded monthly? Compounded continuously?** 1. At 11% compounded monthly, the investment doubles in about ____ years. *(Round to two decimal places as needed.)* 2. At 11% compounded continuously, the investment doubles in about ____ years. *(Round to two decimal places as needed.)* This text invites users to calculate the time required for an investment to double at an interest rate of 11%, with options for both monthly and continuous compounding. Users should round their answer to two decimal places for accuracy.
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