SOLUTION: Interest rate is 7% and doubling time is 10.2 years. You have invested $5,000.00. In how many years will your money $40.000.00

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Question 1143165: Interest rate is 7% and doubling time is 10.2 years. You have invested $5,000.00. In how many years will your money $40.000.00
Answer by math_helper(2461) About Me  (Show Source):
You can put this solution on YOUR website!
+2%5E3+=+8+ so there are 3 doublings (40000/5000 = 8)...


For that to play out, you'd have to wait
+10.2%2A3+=+30.6+ years