Solve.When a principal P earns an annual interest rate r compounded yearly, the amount A after t years is A = P(1 + r)t. How long will it take for a principal to double at 9% compounded annually? Round to the nearest whole year.

A. t ? 9 years
B. t ? 5 years
C. t ? 8 years
D. t ? 7 years


Answer: C

Mathematics

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