When working with compound interest does doubling the time of an investment double the amount of interest earned? explain with words and an example.

Question

King Stewart

Mathematics

6 July, 18:19

When working with compound interest does doubling the time of an investment double the amount of interest earned? explain with words and an example.

+4

Answers (1)

Know the Answer?

Nigel Maldonado · Answer 1

Por exemplo, um capital de US$ 600,00

taxa de juros = 2% ao mês

Montante: M = C * (1+i) ^t

M = 600 * (1+0,02) ^2

M = 600 * (1,02) ^2

M = 600*1,0404

M = 624,24