Question: 5-13 TIME FOR A LUMP SUM TO DOUBLE How long will it take $300 to double if it earns the following rates? Compounding occurs once

5-13 TIME FOR A LUMP SUM TO DOUBLE How long will it take $300 to double if it earns the following rates? Compounding occurs once a year.

a. 6%

b. 13%

c. 21%

d. 100%

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