SOLUTION: An investor deposits $1500 in a mutual fund that returns 11% annually. Determine the time required for the investment to double in value.

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Question 476499: An investor deposits $1500 in a mutual fund that returns 11% annually. Determine the time required for the investment to double in value.
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
1.11^n=2
n = approximately six years to double..