Question: 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

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. Round each answer to two decimal places.

  1. 4%.

  2. 12%.

  3. 17%.

  4. 100%.

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