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compound interest?

starting with $1.00 and increasing the compounding total by 1% daily, how long before the amount doubled?

1 Answer

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  • Anonymous
    7 years ago

    Use the formula I = PRT

    0.01 = $1.00RT, since we don't have a rate lets just assume it's 1 now you just solve for T.

    So T = 100 days.

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