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Solve the Problem 10%10 \% Interest, Compounded Monthly

Question 74

Multiple Choice

Solve the problem.
-You have money in an account at 10%10 \% interest, compounded monthly. To the nearest year, how long will it take for your money to triple?


A) 9 years
B) 7 years
C) 11 years
D) 15 years

Correct Answer:

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