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A recent advertisement in the financial section of a magazine carried the following claim: Invest your money with us at 6 percent, compounded monthly, and

A recent advertisement in the financial section of a magazine carried the following claim: "Invest your money with us at 6 percent, compounded monthly, and we guarantee to double your money sooner than you imagine." How long would it take to double your money at 6 percent, monthly compounding?
10.24 years.
11.58 years.
138.98 years
11.90 years
Cannot be determined without more information.

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