Ask Question
7 April, 03:57

Jordan wants to know how long it will take for the money she deposited to double. she has an interest rate of 4 percent. calculate how long it will take her money to double. four years sixteen years eighteen years eighteen months

+4
Answers (1)
  1. 7 April, 06:36
    0
    2=1.04^t

    t=ln2 / (ln1.04)

    t=17.673 (approx)

    so t=18 (although you will have slightly more than double)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Jordan wants to know how long it will take for the money she deposited to double. she has an interest rate of 4 percent. calculate how long ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers