How long (to the next whole year) will it take money to double if it is invested at 20% compounded anually?

Kalinka asked Aug 23, 2023

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38 votes

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

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

Kalinka asked Aug 23, 2023

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17 votes

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.

Mymmaster answered Aug 28, 2023

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