Arhamer19idn
Answered

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how many years will it take for a sum of money to double at 10% compounded annually

Sagot :

Answer:

t=7.27 years

Step-by-step explanation:

Let the money be p and t will be the number of years that will be needed for the money to get double.

ATQ, 2p=p*(1+0.1)^t

2=(1.1)^t

log(2)/log(1.1)=t, t=7.27

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