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You are able to deposit $1000 in a bank CD today, and you will withdraw the money only once the balance is $1,500. If the
You are able to deposit $1000 in a bank CD today, and you will withdraw the money only once the balance is $1,500. If the bank pays 5 percent annual interest on a daily basis, how long will it take for the balance to reach $1,500 in years (in years. e.g., 10 years is 10)?
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