Question 428540
Solution:Since the interest is added annually we know that, {{{A(t)=P(1+r)^t}}},

where A(t) is the amount of investment after t years, P is the initial investment and r is the interest rate. Substitute the given values and we have:

{{{10000=2000(1+0.05)^t}}}, Divide both sides by 2000,

{{{5=1.05^t}}}, Take ln of both sides,

 ln(5)=tln(1.05), Divide both sides by ln(1.05),

  t=ln(5)/ln(1.05)

  t=33

Answer: Approximately after 33 years our investment will be 10,000 Eu.