Question: can someone show me a different method i could use to answer this question? how would i do this with excel? please dont use the

can someone show me a different method i could use to answer this question? how would i do this with excel? please dont use the method that i already used
can someone show me a different method i could use to answer

7. At 4.7 percent interest, how long does it take to double your money? To quadruple it? FV = PV(1 + r)' t=In(FV/PV)/In(1 + r) To double the money: FV = $2 = $1(1.047) t = ln(2) /In(1.047) 15.09 years To quadruple the money: FV = $4 = $1(1.047) t=In(4) /In(1.047) = 30.18 years

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!