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28 July, 00:19

The Petersons deposited $1,000 in an account that earns 2% annual simple interest. How many years will it take the amount in the account to double?

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  1. 28 July, 00:27
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    Each year it will gain $10 so it will take 50 years.

    1,000 *.02 = 20

    1,000 : 20 = 50
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