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need to know how to solve this problem At what ratae will 150 double itself in 14 years?

  • math -

    First use the rule of 72 to get an approximation:
    N=72/14= 5.1 %
    The real calculation is:
    (1+x)14 = 2
    take log on both sides,
    14log(1+x) = log(2)
    log(1+x) = log(2)/14
    1+x =elog(2)/14
    x = elog(2)/14 -1
    =0.05076
    The percentage required is 5.076%
    (approx. equal to 5.1% estimated earlier)

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