You purchased an antique guitar for 8600. It is expected to appreciate at 2.4% annually. How long will it take the guitar to dou
ble in value
1 answer:
For it to double its price the price has to be +100% more, and every year you get +2.4%, so you do:
100/2.4≈ 42 years or 41.66666667.. years.
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