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New Savings Bank pays 3% interest on its deposits. If you deposit $1,000 in the bank...

  1. New Savings Bank pays 3% interest on its deposits. If you deposit $1,000 in the bank and leave it there, how long will it take to double your money?
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Answer #1

The double amount is 1000*2=$2000

the required years to double is 23.45

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