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Asked by shaon

how long will it take $3,500 to double when it is invested at 3.8%
10 years ago

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Answered by Reiny
solve for n

3500(1.038)^n = 7000
1.035^n = 2

log both sides, and use log rules
n log 1.035 = log 2
n = log 2/log 1.035 = appr 20.15 years
10 years ago
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