# advance algebra with fincial applications

how long does it take \$450 to double at simple interest rate of 14%

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1. 450(1.14)^n = 900
1.14^n = 2
take log of both sides

log 1.14^n = log 2
n log1.14 = log2
n = log2/log1.14 = appr 5.3 years

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2. How long does it take \$450 to double at a simple interest rate of 14%

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