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How Long Will It Take $1,500 to Double Itself If

Question 57

Multiple Choice

How long will it take $1,500 to double itself if it is invested at 5% interest compounded semiannually? Please round the answer to the nearest tenth.

A) 14.0 years
B) 17.0 years
C) 14.5 years
D) 13.0 years
E) 15.0 years

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