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Account grows to four times the initial investment

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At an interest rate of 10 percent and using semiannual compounding, how long will it take to double the value of a lump sum invested today? How long will it take after that until the account grows to four times the initial investment? Given the power of compounding, shouldn't it take less time for the money to double the second time? Explain briefly

Reference no: EM132535101

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