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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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Mathematics
3 years
2021-08-04T10:05:24+00:00
2021-08-04T10:05:24+00:00 1 Answers
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Answer:
4
Step-by-step explanation:
500 times 0.08/8%