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.

  1. 6%

  2. 13%

  3. 21%

  4. 100%

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