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Deduce the compound interest formula. If $20,000 is invested at 6.5% compound interest compounded annually calculate: a) The value of the investment at the end

Deduce the compound interest formula. If $20,000 is invested at 6.5% compound interest compounded annually calculate:

a) The value of the investment at the end of 10 years

b) The number of years that the investment should be left on deposit if it is to double in value

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