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    Exam 9: Compound Interest: Further Topics and Applications
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    Rounded to the Nearest Month, How Long Will It Take
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Rounded to the Nearest Month, How Long Will It Take

Question 39

Question 39

Short Answer

Rounded to the nearest month, how long will it take an investment to double if it earns:
a) 8.4% compounded annually?
b) 10.5% compounded semiannually?

Correct Answer:

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a) 8 years...

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