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Doubling Time For Money With 11.8 Percent Annual Interest

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If you deposit money today in an account that pays 11.8 percent annual interest, how long will it take to double your money?

a. 8.47 years
b. 11.80 years
c. 7.46 years
d. 6.21 years
e. The answer cannot be calculated without knowing how much money is initially deposited.

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The expert examines doubling time for money with an 11/8 percent annual interest.

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