document.write( "Question 428877: An economic indicator is icreasing at the rate of 3% per year. What is its doubling time. This I got it is 23.3 years. By what factor will the indicator increase in 5 years. I don't know how to put this in the calculator. I don't know what to do for this part. \n" ); document.write( "
Algebra.Com's Answer #298010 by robertb(5830)\"\" \"About 
You can put this solution on YOUR website!
the formula is \"A+=+P%281.03%29%5Et\".
\n" ); document.write( "Doubling time:
\n" ); document.write( "\"2P+=++P%281.03%29%5Et\"
\n" ); document.write( "\"2+=+%281.03%29%5Et%7D%7D%0D%0A%7B%7B%7Bln2+=+%28ln1.03%29t\"
\n" ); document.write( "\"t+=+%28ln2%29%2Fln%281.03%29+=+23.45\" years, to two decimal places. You're answer is pretty close.\r
\n" ); document.write( "\n" ); document.write( "In 5 years, \"A+=+P%281.03%29%5E5+=+1.159274P\", so the indicator will increase by approximately 16%.
\n" ); document.write( "
\n" );