Question 1056509
{{{ A = P*( 1 + r/n )^(n*t) }}}
{{{ A = 8000 }}}
{{{ P = 4000 }}}
{{{ r = .06 }}}
{{{ n = 1 }}}
---------------------------
{{{ 8000 = 4000*( 1 + .06/1 )^(1*t) }}}
{{{ 2 = 1.06^t }}}
{{{ log(2) = t*( log( 1.06 ) ) }}}
{{{ .30103 = .02531t }}}
{{{ t = 11.8937 }}} yrs
------------------------------
check:
{{{ 2 = 1.06^t }}}
{{{ 2 = 1.06^11.8937 }}}
{{{ 2 = 1.99977 }}}
error due to rounding off
OK