Ray Mesing has invested $12,000 in a certificate of deposit that has a 4.75% annual interest rate.

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Ray Mesing has invested $12,000 in a certificate of deposit that has a 4.75% annual interest rate. Determine the doubling time for this investment using the doubling-time formula. How does this compare with the estimate given by the rule of 70?

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Calculus With Applications

ISBN: 9780321831101

10th Edition

Authors: Margaret L Lial, Raymond N Greenwell, Nathan P Ritchey

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