Multiple Choice
You deposit $20,000 in an account that doubles in 7 years. How many years will it take the account to be reduced to its original value if it loses 12 percent per year?
A) 4.92 years
B) 5.42 years
C) 6.62 years
D) 8.22 years
Correct Answer:
Verified
Correct Answer:
Verified
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