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18 January, 16:52

The time it takes to double the balance in an account varies inversely with interest rate. If you invest $1,000 at 6% it will take 12 years to double your money. Find the time it will take to double your money at 4 %

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  1. 18 January, 17:12
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    18 years

    Step-by-step explanation:

    At 2/3 the interest rate, the doubling time goes up by a factor of 1 / (2/3) = 3/2.

    (3/2) (12 years) = 18 years
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