Question

The time in which a sum of money will be double at 5% p.aC.I is​

Answer 1

Answer:

Step-by-step explanation:

With compounded interest, you have:

2=1(1 + .05)^t, where t is the time, in years. So:

2=1.05^t

log 2=log 1.05^t=t log 1.05

t=1og 2 / log 1.05=14.2066 years