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Mathematik-Online problems: | ||

## Problem 908: Balance of Bank Account |

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z |

A deposit of $ 1000 is made in a bank account which earns interest at an annual rate of 4%. How long it will take for the balance to double if the interest is compounded:

- (a)
- continuously.
- (b)
- annually.
- (c)
- quarterly.
- (d)
- daily.

(Author: Rafee )

**Solution:**

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automatisch erstellt am 24. 10. 2007 |