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Today, Jason put all of his cash into an account earning an annual interest rate...

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Question

Finance

Today, Jason put all of his cash into an account earning an annual interest rate of 9% compounded monthly. Assuming he makes no withdrawals or additions, approximately how many years must Jason wait to double his money?
Question 11 options:
1)
7 years, 3 months
2)
8 years, 9 months
3)
7 years, 9 months
4)
8 years, 3 months

Answer & Explanation Solved by verified expert
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