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Category: Finance
Satisfied Customers: 12459
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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How would it take investment to double in value at an

Customer Question

How long would it take for an investment to double in value at an interest rate of 1/60 per month
Submitted: 1 year ago.
Category: Finance
Customer: replied 1 year ago.
Deniel and Adam put $5000 in the bank in 2003. They have been getting 2% interest compounded annually. what will the value be in 2016
Expert:  Lane replied 1 year ago.

346 years or 4,160 months


  • PV is -10
  • FV is 20
  • i/mo is .0167 (or 1/60)
  • pmt is 0


Solving for n ... n equals 4,160

Expert:  Lane replied 1 year ago.



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