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Solve Each Equation
-Find Out How Long It Takes a $3000

Question 156

Short Answer

Solve each equation
-Find out how long it takes a $3000 investment to double if it is invested at 7% compounded semiannually. Round to the nearest tenth of a year. Use the formula A=P(1+rn)ntA = P (1+\frac{r}n)^{nt} .

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