(Please help) Math

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1) initial investment = $600
annual % rate = ?
time to double = ?
amount after 10 years = $19,205.00

19,205 = 600e^(10r)

I do not know how to solve for r of find the time to double.

  • (Please help) Math -

    That looks like a misprint, but if the investment really increased that fast,

    19,205 = 600 (1 + r)^10
    10 ln (1+r) = ln (19,205/600) = ln 32.0
    = 3.4657
    ln (1+r) = 0.34657
    1+r = 1.414
    r = 41.4%

    The time to double is 2.0 years

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