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What is the minimum number of years you must wait to double

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Reference no: EM13605249

You deposit $10,000 in a savings account that earns 7.5% simple interest per year. What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the $10,000 in another saving account that earns 7%interest compounded yearly. How many years will it take now to double your balance?

Reference no: EM13605249

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