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The amount of money in an investment is modeled by the function A(t) = 500(1.0107)^t. The variable A represents the investment balance in dollars, and t the number of years. What is the doubling time for the investment? Round answer to 1 decimal place.

Learn how to calculate the doubling time for an investment modeled by exponential growth. This example uses the function A(t) = 500(1.0107)^t, demonstrating key finance and algebra concepts for students in Grades 10-12.

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