Question 227888
{{{p[n]= p[0]*(1.06)^n}}} (where {{{n}}}= number of years
and p[0] = prices the beginning of the 1st year when {{{n=0}}})
When is {{{p[n] = 2p[0]}}}?
{{{2p[0]= p[0]*(1 + .06)^n}}}
{{{2 = (1.06)^n}}}
Take the log of both sides
{{{log(2) = n*log(1.06)}}}
{{{.301 = n*.0253}}}
{{{n = 11.89}}}
It will take 11.89 years for inflation to double