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Consider an investment of $2900 at an APR of 6% compounded monthly. Use the formula that gives the exact doubling time to determine exactly how
Consider an investment of $2900 at an APR of 6% compounded monthly. Use the formula that gives the exact doubling time to determine exactly how long it will take for the investment to double. Express your answer in terms of the number of whole years and remaining months it will take the investment to double. Give your answers as whole numbers. What is the result with the estimate obtained from the Rule of 72
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