2=(1+r/100n)^nt
1 answer:
Answer:
a) Log ( 2 ) = 4t Log ( 83/80 )
b) 4.7 years
Step-by-step explanation:
Attached below is the detailed solution
<u>a) exponential statement in log form for an investment at 15% quarterly </u>
Log ( 2 ) = 4t Log ( 83/80 )
n = 4 , r = 15
<u>b) using change to base to find double time in yr </u>
Double time in yr
t = Log ( 2 ) / 4log ( 83/80 )
= 4.7 years
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