Asked by shaon
how long will it take $3,500 to double when it is invested at 3.8%
Answers
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
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
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.