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If 10 000 is invested at 9 per year compounded monthly the future value S at any time t in months is given by S

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If 10 000 is invested at 9 per year compounded monthly the future value S at any time t in months is given by S 10 000 1 0075 a What is the amount after 1 year Round your answer to two decimal places b How long before the investment doubles Round your answer to one decimal place months

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