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Suppose you deposit $1000 today in an account, expecting at some point to receive $2000. This...

Suppose you deposit $1000 today in an account, expecting at some point to receive $2000. This account pays 8% annually. How many years should you expect to wait before you get your $2000

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Answer #1
Future value = present value*(1+ rate)^time
2000 = 1000*(1+0.08)^Time
Time(in years) = 9.01
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