If $500 is deposited into an account that pays 8% and compounded annually. How long will it take for the deposit to double. please show step

Question

If $500 is deposited into an account that pays 8% and compounded annually. How long will it take for the deposit to double. please show step by step working​

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Khang Minh 3 years 2021-08-04T10:05:24+00:00 1 Answers 18 views 0

Answers ( )

  1. Philomena
    0
    2021-08-04T10:06:24+00:00
    Reply

    Answer:

    4

    Step-by-step explanation:

    500 times 0.08/8%

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