Roger recently inherited some money. He plans to invest his inheritance in a mutual fund earning 8.5% interest compounded annually. How long will it take for him to double his inheritance? Round your final calculation to the nearest tenth. Use the compound interest formula, , where represents the fund’s balance, is the principal amount, is the annual interest rate expressed as a decimal, is the number of times the balance is compounded each year, and is the time in years.

Identify the known quantities.

Determine how long it will take for Roger to double his inheritance.

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