Question: At 2.5 percent interest, how many years does it take to quadruple your money? The ANSWER is 56.14, how do you arrive at that number,

At 2.5 percent interest, how many years does it take to quadruple your money?

The ANSWER is 56.14, how do you arrive at that number, please provide explanation.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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 Finance Questions!