SOLUTION: I have a word problem. If you deposit money today into an account that pays 6.5 percent interest, how long will it take for you to double your money? Please help me with the wo

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Question 103354: I have a word problem. If you deposit money today into an account that pays 6.5 percent interest, how long will it take for you to double your money?
Please help me with the word problem.
thanks
Answer by HyperBrain(694) About Me  (Show Source):
You can put this solution on YOUR website!
+Interest=principal%2Arate%2Atime
If you x amt. of money in order for it to double, the interest must be x also.
x=x*0.065*time
time=15.38 approx.