Question: In how many years does a principal achieve an amount equal to the principal plus 20%? Use a nominal annual interest rate of 8.130601% compounded

In how many years does a principal achieve an amount equal to the principal plus 20%?

Use a nominal annual interest rate of 8.130601% compounded monthly. Specify clearly in your answer whether the calculated term is months or years.

Use all decimals. Use the compound interest method for your calculations

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