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1. Hal invested $40 000 at an interest rate of 6%, compounded annually. He wants to know how long it will take for the investment

1. Hal invested $40 000 at an interest rate of 6%, compounded annually. He wants to know how long it will take for the investment to double. a) Estimate the doubling time. Verify your answer. b) How long would it take for the investment to double if the interest was simple interest?
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1. Hal invested $40000 at an interest rate of 6%, compounded annually. He wants to know how long it will take for the investment to double. a) Estimate the doubling time. Verify your answer. b) How long would it take for the investment to double if the interest was simple interest

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