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dybincka [34]
3 years ago
8

1. At 5.3 percent interest, how long does it take to double your money? (Do not round intermediate calculations and round your a

nswer to 2 decimal places, e.g., 32.16.)
2. At 5.3 percent interest, how long does it take to quadruple your money? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

a. Length of time ___ years
b. Length of time ____ years
Business
1 answer:
eduard3 years ago
3 0

Answer:

a. Length of time<u> 13.42 years </u>

b. Length of time <u>26.84 years</u>

Explanation:

a) Time to double the money:

=NPER(5.3%,0,-100,200)

=13.42 years

b) Time to quadruple the money:

=NPER(5.3%,0,-100,400)

=26.84

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