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    nebur's Avatar
    nebur Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 6, 2009, 06:24 PM
    Time for a lump sum to double
    If you deposit money today in an account that pays 6.5 percent annual interest, how long will take to double your money?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Apr 7, 2009, 05:13 AM

    Just a little over 11 years.

    1 100,000.00 106,500.00
    2 106,500.00 113,422.50
    3 113,422.50 120,794.96
    4 120,794.96 128,646.64
    5 128,646.64 137,008.67
    6 137,008.67 145,914.23
    7 145,914.23 155,398.65
    8 155,398.65 165,499.57
    9 165,499.57 176,257.04
    10 176,257.04 187,713.75
    11 187,713.75 199,915.14
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