SOLUTION: How many years would it take for $1.00 to double if it is compounded annually at 5%

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Question 758619: How many years would it take for $1.00 to double if it is compounded annually at 5%
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
How many years would it take for $1.00 to double if it is compounded annually at 5%
.
Formula:
A = P(1+r)^t
2 = 1(1+.05)^t
2 = (1.05)^t
log%281.05%2C2%29 = t
log(2)/log(1.05) = t
14.2 years = t