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You graduate and receive a $9,000 cheque from your grandparents. You decide to save it toward a down payment on a house. You invest it
You graduate and receive a
$9,000
cheque from your grandparents. You decide to save it toward a down payment on a house. You invest it earning
5%
per year, and you think you will need to have
$18,000
saved for the down payment. How long will it be before the
$9,000
has grown to
$18,000?
To double the money you received from your grandparents, it will take____
years. (Round to one decimal place.)
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