Black Ryan
08/08/2024 · High School
(a) If interest is compounded monthly, how many times would the growth factor be applied in 2 years? The growth factor will need to be applied 24 times in 2 years. Part: \( \mathbf{1} / \mathbf{3} \) Part 2 of 3 (b) If interest is compounded monthly, how many times would the growth factor be applied in 6 years? The growth factor will need to be applied \( \square \) times in 6 years.
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The growth factor will need to be applied 72 times in 6 years.
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