Question: 1 . We sometimes need to find how long it will take a sum of money ( or anything else ) to grow to some

1. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive.
(a) For example, if a companys sales grow at a rate of 4.2% per year, how long will it take to double? Show your answer to 2 decimals (x.xx years). If you are unsure how to work this, return to this weeks practice problems.
You do not need any additional data to solve this problem. If you are in doubt here, go back to the lecture notes and practice problem 6 where double/tripling is discussed. Read the notes!

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