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14 December, 06:13

In its first 10 years a mutual fund produced an average annual return of 20.71 %. Assume that money invested in this fund continues to earn 20.71 % compounded annually. How long will it take money invested in this fund to double

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  1. 14 December, 07:25
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    Using the economic principal the rule of 72 we can divide 72 by the average annual rate of return to determine when an investment will double in value. 72/20.71 results in approximately 3.48 years to double in value.
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