Question

An investment of 1 will double in 15.142 years at a force of interest, δ. An investment of 1 will increase to 3 in n years at the same force of interest. Find n to the nearest whole number.

Answer 1

24 years

Step-by-step explanation:

Nper = 15.142

PMT = 0

PV = 1

FV = 2

Type = 0

Rate = Rate(Nper, pmt, -pv, fv, type)

Rate = Rate(15.142, 0, -1, 2, 0)

Rate = 4.68%

Rate = 4.68%

PMT = 0

PV = 1

FV = 3

Type = 0

NPER = NPER(rate, pmt, -pc, fv, type)

NPER = NPER(0.04684, 0, -1, 3, 0)

NPER = 24 years