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How would it take investment to double in value at an

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How long would it take...
How long would it take for an investment to double in value at an interest rate of 1/60 per month
Submitted: 2 years ago.Category: Finance
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Customer reply replied 2 years 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
Answered in 4 minutes by:
2/17/2016
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 2 years ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 14,847
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

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

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Financial Professional: Lane, JD, CFP, MBA, CRPS replied 2 years ago

Hi,

...

I’m just checking back in to see how things are going.

...

Did my answer help?

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Let me know…

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Thanks

Lane

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