SOLUTION: suppose i put £6,000 into a bank account that pays interest at a rate of 8% per year, compounded weekly. How many years will it take for me to double my money?
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Question 960770: suppose i put £6,000 into a bank account that pays interest at a rate of 8% per year, compounded weekly. How many years will it take for me to double my money? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website!
Take the log of both sides
and
You will double your money in 8 yrs 8 months
check:
close enough
