If you deposit money today into an account that pays 6.5 percent interest, how long will it take for you to double your money?
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If you deposit money today into an account that pays 6.5 percent interest, how long will it take for you to double your money?
Set up equation:
where c is constant
and n is the number of whatever time your 6.5 percent is over (probably years)
solve for n to get your answer.
Let me know if you need further help :)
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