SOLUTION: If the price of sneakers increases 6% per year, about how long will it take for the price to double?
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Question 696335: If the price of sneakers increases 6% per year, about how long will it take for the price to double?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
If the price of sneakers increases 6% per year, about how long will it take for the price to double?
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Solve: 1.06^t = 2
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t*log(1.06) = log2
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t = log(2)/log(1.06)
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t = 11.9 years
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Cheers,
Stan H.
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