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If interest on a savings account is paid at an annual rate [#permalink]
04 Aug 2003, 13:07
If interest on a savings account is paid at an annual rate of 6.25% and if interest is not reinvested, then how many years will the total amount of interest earned equal the amount of money saved in the account?
(1) 36 (2) 24 (3) 18 (4) 16 (5) 12
I am quoting the problem as it is from a book. I have made no changes to the language of the problem.