Question: 1. We sometimes need to find out how long it will take a sum of money (or anything else) to grow to some specified amount.

1. We sometimes need to find out how long it will take a sum of money (or anything else) to grow to some specified amount. For example, if a company's sales are growing at a rate of 20% per year, how long will it take sales to double?

2. If you want an investment to double in 3 years, what interest rate must it earn?

3. What is the difference between an ordinary annuity and an annuity due? What type of annuity is shown below? How would you change it to the other type of annuity?

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