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Answer to Question #10093 in Math for mikomimo
Question #10093
how long will it take for money to double at 4.5% compounded quarterly
Expert's answer
Quarter rate is 1.125%=4.5%/4.
(1+1.125%)^62=2
So it'll take a 62 quarters, or 15.5 years.
(1+1.125%)^62=2
So it'll take a 62 quarters, or 15.5 years.
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