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How Long Does It Take for $5000 to Become $10,000

Question 27

Multiple Choice

How long does it take for $5000 to become $10,000 at a simple interest rate of r = 18% using ordinary interest (Banker's Rule) ?


A) 5 years,203 days
B) 5 years,200 days
C) 5 years,175 days
D) 5 years,173 days

Correct Answer:

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