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How many years does it take for a deposit of $1000 to reach $2350 with an annual effective interest rate of 13.7%?Redo Problem #1 above,

How many years does it take for a deposit of $1000 to reach $2350 with an annual effective interest rate of 13.7%?Redo Problem #1 above, compounding for each complete year, but using simple interest for any remaining fraction of a year at the end.

Answer is NOT (6.65,7.38)

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