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
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
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