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At a 1.2% annual percentage rate, a population doubles in size in ________ years; at a 2.8% annual percentage rate, a population doubles in size in ________ years.

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At 1.2%, the number of years required to double is calculated as :

2= 1*(1+0.012)^n

2 = 1.012^n

log 2 = n log 1.012

n = log 2/log 1.012 = 58.11 Years

At a 1.2% annual percentage rate, a population doubles in size in 58.11 years

At 2.8%, the number of years required to double is calculated as :

2= 1*(1+0.028)^n

2 = 1.028^n

log 2 = n log 1.028

n = log 2/log 1.028 = 25.10 Years

At a 2.8% annual percentage rate, a population doubles in size in 25.10 years

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