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4 . Investing Suppose Hector in Exercise 2 stops adding money to his account when he turns 5 5 , but the account continues to

4 .

Investing Suppose Hector in Exercise

2

stops adding money to his account when he turns

55,

but the account continues to earn a return of

12 %

per year.

If we use the Rule of

72,

how old will Hector be when the balance has doubled?

What will the balance be when it has doubled?

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