Question

MWENYI It is invested at 5% compounded continuously? Exercise 7. How long will it take to double an investment at 11.99% com- pounded bi-weekly? Exercise 8. You deposit $17,000 in a savings account. What rata namnaunda

Answer 1

Hello Sir/ Mam

We know that:

$FV = PV *(1+\frac{r}{m})^{nm}$

$2x = x *(1+\frac{11.99\%}{26})^{26n}$

$2=(1+\frac{11.99\%}{26})^{26n}$

$n = 5.7943 \ years = 301.31 \ weeks$

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