SOLUTION: How long does it take to quadruple an initial deposit of $2000 if the annual interest rate is 5.3%? Your answer should be a whole number.

SOLUTION: How long does it take to quadruple an initial deposit of $2000 if the annual interest rate is 5.3%? Your answer should be a whole number.

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Question 658649: How long does it take to quadruple an initial deposit of $2000 if the annual interest rate is 5.3%? Your answer should be a whole number.

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
=log 4/log 1.053
=0.60206/0.0224
=27.7 yrs
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