Hi,
A= p(1+r) ^t
2 = (1+r)^5
1.1487 = 1 + r
.1487 = r 14.87% interest rate...money will double in 5 years
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website! At what interest rate (to the nearest hundredth of a percent) compounded annually will money in savings double in five years
----------- r = interest rate
r =~ 0.1486 = 14.86% per year