Asked by Lesiba
How long will it take for prices to double if inflation rate is 6% per annum for the next 15 years
Answers
Answered by
Scott
2 = (1 + .06)^t
log(2) = t log(1.06)
t = [log(2)] / [log(1.06)]
log(2) = t log(1.06)
t = [log(2)] / [log(1.06)]
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