Question: 4. Time for a lump sum to double How long will it take $700 to double if it earns the following rates? Compounding occurs once

4. Time for a lump sum to double

How long will it take $700 to double if it earns the following rates? Compounding occurs once a year. Round each answer to two decimal places.

a. 7%.

year(s)

b. 13%.

year(s)

c. 16%.

year(s)

d. 100%.

year(s)

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