1 answer

1. (15 pts) You were fortunate enough to find an investment that guarantees an interest rate...

Question:

1. (15 pts) You were fortunate enough to find an investment that guarantees an interest rate of 8%/year. If you want your inv
1. (15 pts) You were fortunate enough to find an investment that guarantees an interest rate of 8%/year. If you want your investment to double in value, what is the minimum number of years that you need to hold on to it? (Give your answer in whole years -not x years and y months)

Answers

Answer: given the Rate of interest r= 84. 1 year Let N be the number of years to double the shoestment Let $xhuested in to so

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