Question 1185341
Bob invests 5000 euros in a fixed deposit that pays a nominal annual interest rate of 4.5% compounded monthly, for seven years. 

Carla has 7000 dollars to invest in a fixed deposit which is compounded annually. She aims to double her money after 10 years. Find the minimum annual interest rate needed for Carla to achieve her aim.
<pre>Bob: {{{matrix(3,3, A, "=", "5,000"(1 + .045/12)^(12 * 7), A, "=", "5,000"(1 + .045/12)^84, A, "=", highlight(matrix(1,2, "6,847.26", euros))))}}}

Carla: {{{ matrix(1,3, A, "=", P(1 + i/1)^mt)}}}
       {{{matrix(1,3, 2, "=", (1 + i)^10)}}} ------ Future value of 2 (Doubling original amount)
  {{{matrix(1,3, matrix(2,1, " ", 2^(1/10)), "=", 1 + i)}}}
Interest rate, or {{{highlight_green(matrix(1,7, i, "=", matrix(2,1, "", 2^(1/10) - 1), "=", 0.071773463, or, highlight(highlight_green("7.1773463%"))))}}}

These are not even close to being as COMPLEX as the other person makes them seem.</pre>