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The client wants to know how long it will take for an initial deposit of $30000 to double at an annually compounded interest rate of 2.0%

What is the doubling time (assuming no withdrawals or additional deposits are made)?
7 years ago

Answers

Steve
1.02^n = 2
n = log2/log1.02
7 years ago
Anonymous
That is wrong
7 years ago

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