SOLUTION: If the inflation rate is 2.3% compounded annually, how long will it take for prices to double?
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Question 1148349: If the inflation rate is 2.3% compounded annually, how long will it take for prices to double?
Answer by VFBundy(438) (Show Source): You can put this solution on YOUR website!
t = log(base 1.023)2
t = 30.48
It will take 30.48 years.
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