SOLUTION: The population of a country increases at the rate of 3% per annum. how many years will it take to double itself?

Algebra ->  Finance -> SOLUTION: The population of a country increases at the rate of 3% per annum. how many years will it take to double itself?      Log On


   

Question 980984: The population of a country increases at the rate of 3% per annum. how many years will it take to double itself?
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
p=I%2A%281.03%29%5Et
p, population
I, starting population
t, time in years

When t for double p?
1%2A1.03%5Et=2
log%2810%2C1.03%5Et%29=log%2810%2C2%29
t%2Alog%2810%2C1.03%29=log%2810%2C2%29
highlight%28t=log%2810%2C2%29%2Flog%2810%2C1.03%29%29

23%261%2F2%2Ayears