Answer:
10.24 years
Step-by-step explanation:
The computation of the time period is as follows:
As we know that
Amount = Principal × (1 + rate of interest)^time period
£8000 = £4000 × (1 + 0.07)^time period
£8,000 ÷ £4,000 = 1.07^time period
2 = 1.07^time period
Now apply the log to the both sides
log 2 ÷ log 1.07 = time period
= 10.24 years
