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In 1953, an investor opened a savings account with SK earning simple interest at an annual rate of 4.5%. Four years later, the investor closed

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In 1953, an investor opened a savings account with SK earning simple interest at an annual rate of 4.5%. Four years later, the investor closed the account and invested the accumulated amount in a savings acceunt eaming 6% compound interest. Determine the number of years (since 1963) necessary for the balance to reach $2K. (Round your answer to one decimal place.) yrs

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