How many years t will it take a sum of money P to double at 6 percent interest compounded annually A P(1 06)' For money to double, A 2P Substituting for A, Dividing by P, Taking the natural log, Dividing by 0 05827, 2P P(1 06) 2 (1 06)' In 2 In 1 06 0 69315 0 058271 111 9 years...

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How many years t will it take a sum of money P to double at 6 percent

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Schaum S Outline Of Mathematical Methods For Business Economics And Finance

ISBN: 978-1264266876

2nd Edition

Authors: Luis Moises Pena Levano

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Question Posted: Sep 20, 2024 06:03 AM

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How many years t will it take a sum of money P to double at 6 percent

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A = P(1+.06)' For money to double, A = 2P. Substituting for A, Dividing by P, Taking the natural log, Dividing by 0.05827, 2P P(1+.06) == 2 = (1+.06)' In 2 = In 1.06 0.69315 0.058271 === 111.9 years

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Schaum S Outline Of Mathematical Methods For Business Economics And Finance

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