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Posted on Oct 06, 2024

Given an opportunity to invest in an account that will pay an annual interest rate of 5%. How many years will it take to quadruple

Given an opportunity to invest in an account that will pay an annual interest rate of 5%. How many years will it take to quadruple the initial investment?

a. 20.49 years

b. 28.41 years

c. 35.35 years

d. 18.63 years

e. None of the above

*Please show work.

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