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how long will it take to double your money at 7.5% compounded daily? and 3.62% compounded quarterly?
how long will it take to double your money at 7.5% compounded daily? and 3.62% compounded quarterly?
Let P is the principal with R as interest rate percent p.a. with compounding done M times per year.Then the amount after N years is given by,R MNA = P(1 + )IUDMTo double the money, put A=2P R...