document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1131174>Question 1131174</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the time it would take for the general level of prices in the economy to double at an average annual inflation rate of 7.1&#8203;%. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #747794 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=747794\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find time for an annually compounding rate of 7.1% to double:<BR>\n" );
document.write( ".<BR>\n" );
document.write( "t = ln(A/P)/ln(1 + r) = [ln(A) - ln(P)] / ln(1 + r)<BR>\n" );
document.write( "t = ln(2/1)/ln(1 + 0.071) <BR>\n" );
document.write( "= [ln(2) - ln(1)]/ln(1 + 0.071)<BR>\n" );
document.write( "= 0.3/0.03 = 10<BR>\n" );
document.write( "It would take 10 years. </SPAN>\n" );
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