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18 January, 08:31

Jasper has $1,000 invested at 8% interest. How long will it take him to double his money?

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  1. 18 January, 11:56
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    To answer the question above as to how long it will take for Jasper to double is money:

    If the is on monthly basis, it will take 25 months. See calculation below:

    Interest: $1,000 x 0.08 = $80 x 25 months = $2000.
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