Hi

A= p(1+r) ^t 

A/p = 2 = (1.04)^t  |money doubling

2 = (1.04)^t 

ln2 = ln(1.04)^t    |taking logarithm of each side of the equation

ln2 = t*ln(1.04)

ln2/ln(1.04) = t

  17.673 yr = t, the time to double 

RELATED QUESTIONS

If you have 5,000 invested in a bank that pays 5.2 percent annually. How long will it... (answered by solver91311)

How long would it take $100 to double if it were invested in a bank that pays 6% per... (answered by Simpso1,JulietG)

Jordan has invested $4000 in an account that earns 3.6% compounded annually.... (answered by greenestamps,josgarithmetic)

Randy has invested $2400 in a savings account which pays annual interest at 4.03%... (answered by Fombitz)

Sam has a savings account that pays an interest rate of 11%, and he wants to know how... (answered by addingup)

How long will it take $3000 to double if it is invested in an account that pays 3%... (answered by Alan3354)

WORKSHEET 2
Interest
Simple Interest
Simple Discount
Compound Interest

Solve for... (answered by ikleyn)

You deposit $500 in an account that pays 2.5% annual
interest compounded continuously.... (answered by ewatrrr)

An amount is invested in an account that offers 5% (percent) interest which is compounded  (answered by mananth)