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You deposited $ 1 0 0 into a fund that accumulates at an annual effective interest rate of 7 % . Four years later, the

You deposited $

100

into a fund that accumulates at an annual effective interest rate of

7 % .

Four years later, the interest rate changes to an annual nominal rate of

8 %,

compounded quarterly.

How many years will it take for your deposit to double?

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