Question

2=(1+r/100n)^nt

T=yr R=%

Write this exponential statement in logarithmic form for an investment at 15% quarterly. Then use change to base to find double time in yr.

Answer 1

a) Log ( 2 ) = 4t Log ( 83/80 )

b) 4.7 years

Explanation:

Attached below is the detailed solution

a) exponential statement in log form for an investment at 15% quarterly

Log ( 2 ) = 4t Log ( 83/80 )

n = 4 , r = 15

b) using change to base to find double time in yr

Double time in yr

t = Log ( 2 ) / 4log ( 83/80 )

= 4.7 years