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If you deposit money today in an account that pays 14.5% annual interest, how long will it take to double your money? Round your answer to two decimal places. years

If you deposit money today in an account that pays 14.5% annual interest, how long will it take to double your money? Round your answer to two decimal places. years

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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How do I do this on a Financial calculator? Can it even do this problem?

Back to Assignment Attempts Average / 1 6. Problem 5.04 (Time for a Lump Sum to Double) eBook Problem Walk-Through If you deposit money today in an account that pays 14.5% annual interest, how long will it take to double your money? Round your answer to two decimal places. years
Transcribed Image Text:Back to Assignment Attempts Average / 1 6. Problem 5.04 (Time for a Lump Sum to Double) eBook Problem Walk-Through If you deposit money today in an account that pays 14.5% annual interest, how long will it take to double your money? Round your answer to two decimal places. years
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Let us assume you deposit $100 so FV would be $200

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