Question 1002921
Hi there,
N = I e^kt
k = 8.3% = 0.083
Make N = 2
I = 1
2 = I e^0.083t
2/1 = e^0.083t
2 = e^0.083t
ln2 = 0.083t lne (lne = 1)
t = ln2/0.083
t = 8.35 years
t = 8 years.
Hope this helps :-)