using compound interest, how long does it take to double a 1000 dollar investment that pays 6.5% annual interest, compounded monthly?

11 years approx

Step-by-step explanation:

Given data

P=$1000

A=2000

R=6.5%

T= ?

Calculate time, solve for t

t = ln(A/P) / r

substitute

t=ln(2000/1000)/0.065

t=ln(2)/0.065

t=0.693/0.065

t=10.66

Hence the time is 11 years approx

i think it is

step-by-step explanation:

a formal letter is a letter the you would send to a king

answer: since the question is talking about growth you have to use the growth formula which is inital amount (1 + growth)^time

step-by-step explanation:

the intial amount is 1200, the growth is 4.8, and the time is 7. plug those numbers into the equation, also i think you have to change 4.8 into a percent. but, i have forgotton how to do that. if this is a online class go on to the lesson.