Question: To the closest year, how long will it take $ 2 0 0 to double if it is deposited and earns the following rates? [

To the closest year, how long will it take $200 to double if it is deposited and earns the following rates? [Notes: (1) See the Hint for Problem 4-9.(2) This problem cannot be solved exactly with some financial calculators. For example, if you enter PV 200, PMT 0, FV 400, and I 7 in an HP-12C and then press the N key, you will get 11 years for part a. The correct answer is 10.2448 years, which rounds to 10, but the calculator rounds up. However, the HP10BII gives the exact answer.] a.7% b.10% c.18% d.100%

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