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3 years ago

Brian invests £4000 into his bank account.

Mathematics

1 answer:

GuDViN [60]3 years ago

7 0

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

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