Christy M.

# Find how long it takes $500.00 to double if it is invested at 8% compounded semi-annually. Use A=P(1+r/n)^nt where: A= the amortized amount (total loan/investment amount over the life of the loan/investment) P= the initial amount of the loan/investment r= the annual rate of interest n= the number of times interest is compounded each year t= the time in years Find how long it takes$500.00 to double if it is invested at 8% compounded semi-annually.

It will take ______years. (Round answer to 3 decimal places.)

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