Mathematics

Giovanni Hansen

27 May, 09:43

On January 1, 1960, Augustus deposited $3950 into a savings account paying 3.3% interest compounded monthly. If he hasn't made any additional deposits or withdrawals since then, and if the interest rate has stayed the same, in what year did his balance hit $7900 according to the rule of 72? *

1980

1981

1982

1983

+4

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