Q 2). Calculate time when only rate changes and amount doubles

For each interest rate, determine a). how long (in years) it will take for your money to double. Round to the nearest year. Formulate the table with keeping Principal as $1000, Compounding periods as 12 as it is compounded monthly, amount to double as $ 2000 and calculate number of years (t) and fill in the column in following table:

P (Principal)	r (annual rate)	Compounded rate	M (number of compounding periods)	t (number of years)	A (amount)
$5000	2%	monthly	12		$10,000
$5000	5%	monthly	12		$10,000
$5000	8%	monthly	12		$10,000
$5000	11%	monthly	12		$10,000

Use the Amount formula to set up the equation. Take the log of both sides and Identify which property of logarithm you can use to solve the equation for calculating time t. (Hint: log a^b = b log a)

b). graph the rate and corresponding time to it on coordinate axes. Take appropriate and equal increments along x axis and y axis to plot it. Label x axis as Rate and y axis as Time.