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Jala put $600 in an interest bearing account with a annual compound interest rate of 5%. Jala determined that after seven years, she will have a total balance of $844.26. Using the rule of 72, mc010-1.jpg how many more years will it be before Jala’s $600 doubles in value? Round to the nearest tenth.

2 Answers

4 votes
14 years is the correct anwser


User Derick F
by
9.0k points
6 votes
14 years. Would be your answer.


User Rauno Palosaari
by
8.7k points
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