If you open a savings account that earns 85 simple interest, Financial Management

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If you open a savings account that earns 85 simple interest

If you open a savings account that earns 8.5% simple interest per year, what is the minimum number of years you must wait to double your balance? Suppose you open another account that earns 7.5% interest compounded yearly. How many years will it now take to double your balance?

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Financial Management: If you open a savings account that earns 85 simple interest

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