Mathematics, 07.05.2020 04:00 brendacauani12345

1. Tom wants to invest $8,000 in a retirement fund that guarantees a return

of 6.45% annually using monthly compounded interest. Determine how

many years (round to hundredths) will it take for her investment to double.

O

a. 10.78 years

O

b. 12.39 years

O

c. 21.52 years

O

d. 7.69 years

Answers: 3

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1. Tom wants to invest $8,000 in a retirement fund that guarantees a return

of 6.45% ann...