Question: The time t (in years) for an investment to double is where r is the annual yield rate. How long does it take an investment

The time t (in years) for an investment to double is

In 2 In(1 + r)


where r is the annual yield rate. How long does it take an investment to double if r = 

(a) 3.00%, 

(b) 6.00%, 

(c) 9.00%?

In 2 In(1 + r)

Step by Step Solution

3.34 Rating (157 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

We can plug in the given values of r into the formula and solve for t a ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Basic Technical Mathematics Questions!