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If you deposit $500 in an account that is paying 4% simple interest, how long will it take (to the nearest year) for your account to double in value?
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If you deposit $500 in an account that is paying 4% simple interest, how long will it take (to the nearest year) for your account to double in value?

User John Joseph
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With $500.00 account paying 4% interest in a year, it would take 25 years to double the money. Yearly interest is at $20.00.
User Garrett McCullough
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