If 8 000 is invested at 9 per year compounded monthly the

Last updated: 3/11/2023

If 8 000 is invested at 9 per year compounded monthly the future value S at any time t in months is given by S 8 000 1 0075 t a What is the amount after 1 year Round your answer to two decimal places b How long before the investment doubles Round your answer to one decimal place months