Hi, 

*Note: 

 A=P(1+r/n)^(nt). 

A = amount of money accumulated after n years, including interest.

P = principal amount (the initial amount you borrow or deposit) 

r  = annual rate of interest (as a decimal)

t  = number of years the amount is deposited or borrowed for.

n  =  number of times the interest is compounded per year

In this example, n is 1 as the interest compounds annually

interest rate of 8%, how long will it take to double an investment of $100 

200=100*(1+.08)^t

2 = 1.08 ^t

2 = 1.08^9

t = 9 yrs to double your money (for each amount of investment given)



 

 

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