You Deposit $20,000 in an Account That Doubles in 7

question 78

Multiple Choice

You deposit $20,000 in an account that doubles in 7 years. How many years will it take the account to be reduced to its original value if it loses 12% per year?

• A) 4.92 years
• B) 5.42 years
• C) 6.62 years
• D) 8.22 years

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