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James has $ 1 2 , 0 0 0 saved in a no interest account and decides to invest it into a long - term

James has $

12, 000

saved in a no interest account and decides to invest it into a long

-

term asset. He hopes to turn the $

12, 000

into $

25, 000 .

If the asset has a return of

12 %,

how long will it take him to reach his goal?

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