In how many years will an investment of P2000 double in amount if the interest rate is 14.35% compounded semi-annually?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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In how many years will an investment of P2000
double in amount if the interest rate is 14.35%
compounded semi-annually?
Select the correct response.:
O 6.5years
O 6years
O 10 years
O 5.0 years
O 5.12 years
Transcribed Image Text:In how many years will an investment of P2000 double in amount if the interest rate is 14.35% compounded semi-annually? Select the correct response.: O 6.5years O 6years O 10 years O 5.0 years O 5.12 years
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