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What interest rate must it earn

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1. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive.

(a) For example, if a company's sales are growing at a rate of 5.2% per year, approximately how long will it take sales to double?

(b) If you want an investment to double in seven years, what interest rate must it earn?

Reference no: EM132774562

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