How long will it take money to double invested
Problem: How long will it take money to double it is invested at 7% compounded semiannually and 6.6% compounded continuously?7% = x years compounded semiannually6.6% = x years compounded continuously
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In order to accumulate enough money for a down payment on a house, a couple deposits $259 per month into an account paying 6% compounded monthly.
How long will it take money to double it is invested at 7% compounded semiannually and 6.6% compounded continuously?
Please show process on how to get to amount in account.
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