Math
posted by Katie on .
How long would it take to double your money at 15.86 percent with interest compounded annually?

let the time be n
1(1.1586)^n = 2
log both sides
log 1.1586^n = log2
n(log1.1586) = log 2
n = log2/log1.1586 = appr 4.7 years