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A sum of $1000 is invested now and left for eight years, at which time principal is with drawn the The interest that has accrued

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A sum of $1000 is invested now and left for eight years, at which time principal is with drawn the The interest that has accrued is left for another eight years. If the effective annual interest rate is 12% what will be the withdrawal amount at the end of the 16th year? How many months will it take for an investment to double at an annual interest rate of 12% compounded monthly

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