Question

How long (to the next whole year) will it take

money to double if it is invested at 20% compounded
anually?

Answer 1

Explanation:

2x = x1.2^n

2 = 1.2^n

log1.2(2) = n

log10(2)/log10(1.2) = n = 3.801784017...

so, rounded to the next whole year it takes 4 years.