How many years will it take you to double your money, Financial Accounting

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How many years will it take you to double your money

Problem

• You plan to invest $1,000 today in an investment that you expect will earn a stated annual rate of 9% compounded semi-annually. How much will your investment be worth in 10 years?

• A bank offers to pay you a stated annual rate of 5%, compounded daily. How many years will it take you to double your money in this account?

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Financial Accounting: How many years will it take you to double your money

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Financial Accounting: How many years will it take you to double your money

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