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10. How long does it take for money to double at 8% compounded quarterly? 11. A $5000 bond bearing interest at 7% payable semi-annually matures

10. How long does it take for money to double at 8% compounded quarterly?

11. A $5000 bond bearing interest at 7% payable semi-annually matures in 8 years. If it is bought to yield 6% compounded semi-annually, what is the purchase price of the bond?

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