Find minimum number of years must wait to double balance, Mechanical Engineering

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Find minimum number of years must wait to double balance

You deposit $10,000 in a savings account that earns 7.5% simple interest per year. What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the $10,000 in another saving account that earns 7%interest compounded yearly. How many years will it take now to double your balance?

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Mechanical Engineering: Find minimum number of years must wait to double balance

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Request for Solution File

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Mechanical Engineering: Find minimum number of years must wait to double balance

Reference No:- TGS0712754

Have a Question? (oR Write a Review)

Recent Questions Asked Mechanical Engineering

Q : Probability that all of the adults use credit cards

Q : Appear on a multiple-step income statement

Q : How much gross profit was realized from this sale

Q : Why the factory overhead incurred for august

Q : Find minimum number of years must wait to double balance

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Request for Solution File

Ask an Expert for Answer!!

Mechanical Engineering: Find minimum number of years must wait to double balance

Reference No:- TGS0712754

Recent Questions Asked Mechanical Engineering

Q : Probability that all of the adults use credit cards

Q : Appear on a multiple-step income statement

Q : How much gross profit was realized from this sale

Q : Why the factory overhead incurred for august

Q : Find minimum number of years must wait to double balance

Q : Investor plans to hold the bonds

Q : How to determine the equivalent units of production

Q : Magnitude of the difference in electric potential

Q : Question regarding the rewards program

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