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How many years will take for the account to reach

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Uhave saved R10,000 towards a down payment on a home. The money is invested in an account earning 7% interest. You will be ready to purchase the new home once your savings account grows to R25,000

Question a. Approximately how many years will it take for the account to reach R25,000?

Question b. If the interests rate doubles to 14%, how many years will pass befire you reach your R25,000 target?

Reference no: EM132614879

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