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You have $2500 in a savings account. The money is earning 4.8% per year, compounded quartely. How many years will it take for your money
You have $2500 in a savings account. The money is earning 4.8% per year, compounded quartely. How many years will it take for your money to triple A. About 23 B.about 47 C. About 92 D. About 184 E. None of the above If the compounding were changed from quartely to semiannually, then the time necessary for your invest to triple would: A. Increase because interest is compounding more often B. Decrease because interest is compounding more often C. Increase because interest is compiunding less often D. Decrease because interest is compounding less often. E. None of the above
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