how long will it take $3,500 to double when it is invested at 3.8%
solve for n
3500(1.038)^n = 7000
1.035^n = 2
log both sides, and use log rules
n log 1.035 = log 2
n = log 2/log 1.035 = appr 20.15 years
3500(1.038)^n = 7000
1.035^n = 2
log both sides, and use log rules
n log 1.035 = log 2
n = log 2/log 1.035 = appr 20.15 years