Question

How many years will it take for a debt to double at 42% p.a. compound
interest?
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Answer 1

Answer:

Step-by-step explanation:

The value after 1 year is 1.42 times the principle. After two years it is 1.42 times the value after the first year, or 1.42 x 1.42 x P. IOW the account is A = P(1.42)^N where N is the number of interest periods. You can use logarithms to solve for N.

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