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How many years will it take an investment to double if the interest rate is 8.4% compounded at the given intervals? (a) Quarterly (b) Monthly (c) Continuously

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Solve it correctly please. I will rate accordingly with multiple votes. Ty-ped answer only.

How many years will it take an investment to double if the interest rate is 8.4% compounded at
the given intervals?
(a) Quarterly
(b) Monthly
(c) Continuously

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