Asked by Dan
The inflation rate in the united states in 2014 was about 1.3%. If prices go up by 1.3% per year, how long will it take for them to double? assume that prices are increasing continuously.
Answers
Answered by
Steve
(1+0.013)^n = 2
n = log2/log1.013
...
n = log2/log1.013
...
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