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A sum of money is invested at 21% compounded quarterly. About how long will it take for the amount to double

A sum of money is invested at 21% compounded quarterly. About how long will it take for the amount to double
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2 votes
A sum of money is invested at 21% compounded quarterly. About how long will it take for the amount to double

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User Marcus Griep
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1 Answer

4 votes
Use 72 rule
72/rate=Time
72÷21=3.4 years
answered
User Salva Corts
by
8.3k points
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