Problem

Long-Term Investments Exercises 41–48 are based on the following table...

Long-Term Investments Exercises 41–48 are based on the following table, which lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2011. HINT [See Example 3.]

How long, to the nearest year, will it take an investment in Australia to double its value if the interest is compounded every 6 months?

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