Answered

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Jenny’s mom opened up a $1,000 CD for her that earns 3.5% interest. How long will it take for Jenny to double her account balance? Round to the nearest whole number.

16 years
13 years
21 years
7 years

Sagot :

Answer: 21 years

Step-by-step explanation:

I used a rule of 72 calculator to find this answer. At a 3.5% interest rate, it will take 20.57 years to double an investment.

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