Mary Klingman invests $15,000 in an account paying 7% per year compounded annually. a. How many years
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Mary Klingman invests $15,000 in an account paying 7% per year compounded annually.
a. How many years are required for the compound amount to at least double?
b. In how many years will the amount at least triple?
c. Check your answer to part a using either the rule of 70 or the rule of 72, whichever applies.
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Related Book For
Calculus With Applications
ISBN: 9780321831101
10th Edition
Authors: Margaret L Lial, Raymond N Greenwell, Nathan P Ritchey
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