How long will it take for a $1000 investment to double if the bank gives you a rate of .25%?

Number of period(n) =277.65

Explanation:

Given:

Amount invested(p) = $1,000

Amount at the end of period(A) = 2 × Amount invested = 2 × $1,000 = $2,000

Rate of interest(r) = 0.25% = 0.0025

Find:

Number of period(n) = ?

Computation:

Number of period(n) =277.65

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