Math, asked by sanjaybadoni888, 10 months ago

how long will it take for a principal to double if money is worth 12% compounded monthly

Answers

Answered by rajendarboxer143

2

I believe you are asking if we have an annual rate of 12%, compounded monthly, how long to double?

1.01^X=2

X log(1.01) = log(2)

X = log(2)/log(1.01)

X = 69.66 or at 70 months.

Previous Question

Next Question

Similar questions

Hindi, 5 months ago

If a number is multiplied by 5 and 8 is subtracted from the result is twelve find the number...

English, 5 months ago

Choose the correct adverb:- She speaks many languages_____. * (a) Quickly (b) Fluently (c) Rearly no spam ❌...

Computer Science, 5 months ago

Q.1 Which of the following is used to open a new file in writer ? Ctrl+S ALT+N Ctrl+N Ctrl+V Q.2 Setting up writer options means, the settings will affect__________________________. (a) All types of Openoffice documents (b)Only the text documents (c)Only the text documents created with writer. (d)The text documents and spreadsheets of openoffice. Q.3 In writer options set up , you can...

Social Sciences, 10 months ago

provide a suitable classification of resources on the basis of ownership mention main features of such resources...

Math, 10 months ago

expand the log 27/16...

Chemistry, 1 year ago

One mole of n2 and three moles of h2 are placed in a flask at 375...

Social Sciences, 1 year ago

Role of quality and communication for internal correspondence...

Political Science, 1 year ago

Sale of land below 5 dismil exempt under which section...