The hanger image below represents a balanced equation.
2 answers:
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Years = natural log (total / principal) / rate
Years = ln (78,900 / 39,450) / .032
Years = ln (2) / .032
Years = 0.69314718056 / .032
Years = <span> <span> <span> 21.6608493925 </span> </span> </span>
And here's a calculator to check that answer:
http://www.1728.org/compint.htm
Years = ln (78,900 / 39,450) / .032
Years = ln (2) / .032
Years = 0.69314718056 / .032
Years = <span> <span> <span> 21.6608493925 </span> </span> </span>
And here's a calculator to check that answer:
http://www.1728.org/compint.htm