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01-04-2020
Computers and Technology

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$2,000 is deposited into a savings account that receives 4% annual interest . How long will it take for the amount of money in the account to double?

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rq945972 rq945972

01-04-2020

The answer would be 25 years is what it would take for it to double 2000x.04=80 . The interest would add up to 80 for 1 year. Multiple 80 by 25 and you get 2000.

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