document.write( "Question 1148450: If the inflation rate is 4.1% compounded annually, how long will it take for prices to double?
\n" );
document.write( " \n" );
document.write( "
Algebra.Com's Answer #769802 by ankor@dixie-net.com(22740)![]() ![]() You can put this solution on YOUR website! If the inflation rate is 4.1% compounded annually, how long will it take for prices to double? \n" ); document.write( ": \n" ); document.write( "Let t = no. of years for prices to double \n" ); document.write( "A simple equation: \n" ); document.write( " \n" ); document.write( "Using natural logs \n" ); document.write( "t*ln(1.041) = ln(2) \n" ); document.write( ": \n" ); document.write( "t = \n" ); document.write( "t = 17.25 ~ 18 yrs to double \n" ); document.write( " |