Math

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How long would it take to double your money at 15.86 percent with interest compounded annually?

  • Math -

    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

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