azjaylove1
contestada


Becky's brother has an investment account that he says earns an
average of 13% each year. If this is the case, approximately how long
will it take him to double his money?

Respuesta :

mhanifa

Answer:

  • Approximately 8 years

Step-by-step explanation:

We are looking for 100% interest amount.

Since the yearly interest rate is 13%, time required to double the amount is:

  • 100/13 = 7.69 or nearly 8 years

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