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Asked by Lexie

What nominal annual rate of interest compounded yearly is required to double an investment in 13 years?
12 years ago

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Answered by Steve
2 = (1+r)^13
2^(1/13) = 1+r
r = 2^(1/13)-1 = 5.48%
12 years ago
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What nominal annual rate of interest compounded yearly is required to double an investment in 13 years?

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