SOLUTION: if you invest money into an account that receives a steady annual interest rate of 3.5%, how many years will it take to double your investment?

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Question 453339: if you invest money into an account that receives a steady annual interest rate of 3.5%, how many years will it take to double your investment?
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
2P+=+P%281%2B+r%29%5Et
<==> 2+=+%281+%2B+0.035%29%5Et ==> 2+=+1.035%5Et ==> t+=+ln2%2Fln1.035+=+20.15 years, to the nearest tenth.