Question 721511
The value of a house is increasing at 4.2% yearly. at this rate how long will it take for the value to double?
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Let x be the value of the house before doubling.
Each year the value is multiplied by 1.042
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Solve for "k"
1.042^k*x =  2x
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Divide both sides by x to get:
1.042^k = 2
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Now take the log of both sides to get:
k*log(1.042) = log(2)
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Solve for "k":
k = log(2)/log(1.042)
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k = 0.3010/0.0179
k = 16.84 years
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In the 17th year the money will double,
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Cheers,
Stan H.