. A certain amount earns 10percent interest compounded annually .What is the minimum number of years(in integers) it takes to double the amount ??
Let
A=initial amount
n=number of years
Use the compound interest formula,
2A = A*1.1^n
1.1^n=2
nlog1.1=log2
n=log(2)/log(1.1)
then round n to the nearest integer.