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Fundamentals of Engineering Economics 3rd Edition by Chan Park
Edition 3ISBN: 978-0132775427Fundamentals of Engineering Economics 3rd Edition by Chan Park
Edition 3ISBN: 978-0132775427 Exercise 2
You deposit $3,000 in a savings account that earns 8% simple interest per year. How many years will it take to double your balance? If, instead, you deposit the $3,000 in another savings account that earns 7% interest compounded yearly, how many years will it take to double your balance?
Explanation
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Deposit amount i...
Fundamentals of Engineering Economics 3rd Edition by Chan Park
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