Question

How many years will it take for a debt to double at 15% p.a. compound
interest?​

Answer 1

Step-by-step explanation:

X*(1.15)^t= 2x

(1.15)^t= 2x/x=2

log(1.15)^t= log(2)

t* log(1.15)= log(2)

t= log(2)/log(1.15)= 4.9595

Almost 5 years.

Check(1.15)^5= 2.0113571875<--- Yes!!!