David has a savings account with a 7,000 balance today. The account earns an annual percentage...

David has a savings account with a 7,000 balance today. The account earns an annual percentage rate of interest of 2.25%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double?

Expert Solution

ROUNDED TO 2 DECIMALS. SOLVED WITH FINANCIAL CALCULATOR AS WELL AS EXCEL FUNCTION

jeff jeffy answered 2 hours ago

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