Question: TIME FOR A LUMP SUM TO DOUBLE How long will it take $700 to double if it earns the following rates? Compounding occurs once a

TIME FOR A LUMP SUM TO DOUBLE

How long will it take $700 to double if it earns the following rates? Compounding occurs once a year. Round each answer to two decimal places.

5%.

year(s)

10%.

year(s)

21%.

year(s)

100%.

year(s)

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