3 years ago

Wilson wants to know how long it will take his $1000 investment to double

Mathematics

1 answer:

riadik2000 [5.3K]3 years ago

7 0

Answer:

Step-by-step explanation:

Take the log of both sides:

log(2) = t*log 1.015, so that:

log(2)

t = --------------- = 46.6 compounding periods, which is 46.6/4, or 11.6 years

log 1.015

Can't write this exponential equation as a logarithm; instead, CAN write it in logarithmic form.

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