Question

In how many years will a sum of money double at 5% p.a. compe
(a) 15 years 3 months
(b) 14 years 2 months
(C) 14 years 3 months
(d) 15 years 2 months​

Answer 1

Answer:

(b)14 yrs and 2 months

Explanation:

2=1(1.05)^n

Use calculator to find n.