Question 1153394
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2A = {{{A*(1+0.16/12)^n}}},


where "n" is the number of months.


Divide by A both sides


2 = {{{(1+0.16/12)^n}}},   or, equivalently


2 = {{{1.013333^n}}}.


Take log base 10 from both sides


log(2) = n*log(1.013333)


n = {{{log(2)/log((1.013333))}}} = 52.3 months = 4 years and 5 months (rounded as required).    <U>ANSWER</U>
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