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(a) Alice wishes to determine how long it will take an initial deposit of $10,000 to double. Required: (6) If Alice earns 10% annual interest

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(a) Alice wishes to determine how long it will take an initial deposit of $10,000 to double. Required: (6) If Alice earns 10% annual interest on the deposit, how long will it take for her to double her money? (4 marks) (11) Explain the general relationship exists between compounding intervals and present value. (3 mark)

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