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650 invested for 12 years at 8 percent compounded annually? _____________  210 invested for 8 years at 9 percent compounded annually? ______________ ​

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What does 8% compounded annually mean?

It can only be used for annual compounding. 2. As an example, an investment that has a 6% annual rate of return will double in 12 years. An investment with an 8% annual rate of return will thus double in nine years.

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