Question 1111067
rule of 70 is 70/14=5%
P=6000(1+r)^14
12000=6000(1+r)^14
2=(1+r)^14
ln2=14 ln(1+r)
0.693=14 *ln(1+r)
.0495=ln (1+r)
raise everything to e power
1.051=(1+r)
r=0.051 or 5.1%