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1 November, 12:28

Perry has an opportunity to put $2291 into an investment with an APR of 7.6%. How long will it take his investment to double?

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  1. 1 November, 13:20
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    2*2291=2291 (1+0.076) ^t==> 2 = (1+0.076) ^t

    Solve for t

    Log (2) = t*log (1.076)

    T=log (2) : log (1.076)

    T=9.46 years round your answer to get 9 years
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