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How Long Will It Take $30,000 to Quadruple If It

Question 9

Multiple Choice

How long will it take $30,000 to quadruple if it is invested in a savings account that pays 3.5% annual interest compounded continuously? Round to the nearest year.


A) 40 years
B) 42 years
C) 39 years
D) 38 years
E) 37 years

Correct Answer:

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