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24 March, 23:58

A person invested $690 in an account growing at a rate allowing the money to double

every 7 years. How much money would be in the account after 3 years, to the nearest

dollar?

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Answers (1)
  1. 25 March, 02:53
    0
    Here is a third answer: compounding using a 365-day year, it'll take an investment 9 years, 10 months and 2 days (3,615 days). Solve for n, the number of periods. We get 3,615 days, which divided by 365 is 9.90 years.
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