Assume that a savings account earns interest at the rate of 3% compounded monthly. If this account

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Assume that a savings account earns interest at the rate of 3% compounded monthly. If this account contains $2500 now, how many months will it take for this amount to double if no withdrawals are made?

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Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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Posted Date: Feb 11, 2023 05:50 AM

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Assume that a savings account earns interest at the rate of 3% compounded monthly. If this account

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Engineering Economic Analysis

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