The annual interest rate on the deposit

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Reference no: EM131014474

David wants to know how long it will take an initial deposit of $10,000 to double.

How long will it take to double if the annual interest rate on the deposit is 10%?

How long will it take to double if the annual interest rate on the deposit is 7%?

Please show steps and formulas used

Reference no: EM131014474

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