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When working with compound interest. does doubling the time of an investment double the amount of interest earned?
Wiki User
∙ 12y ago
No. It more than doubles it.
It the interest rate is r%, the total interest increases, per unit invested, from
[(1+r/100)^2t - 1] - [(1+r/100)^t - 1] = (1+r/100)^2t - (1+r/100)^t
Wiki User
∙ 8y ago
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