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You Deposit $20,000 in an Account That Doubles in 7

Question 29

Multiple Choice

You deposit $20,000 in an account that doubles in 7 years. How many years will it take the account to double again if it earns 14 percent per year?

A) 4.92 years
B) 5.29 years
C) 6.62 years
D) 8.22 years

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