Using an exponential equation, it is found that it will be 7.3 years before the value is doubled.
The equation for an increasing <u>exponential function</u> is given by:
In which:
- A(0) is the initial amount.
- r is the growth rate, as a decimal.
In this problem:
- Gains 10% each year, thus
.
The doubling time is t for which , then:
It will be 7.3 years before the value is doubled.
A similar problem is given at brainly.com/question/23008760