How long would it take the investment to double in value? (1 Viewer)

[bubb]

The information is in the attachment photo below

How long would it take the investment to double in value? How to solve??

 

[BLIT2014]

A=P(1+r)^n
A=10000(1.06)^n
2=10000(1.06)^n
log(2)=log(1.06)^n (take the log of both sides of an eqn)
n=log2/log(1.06) (divide both sides of the equation)
n=11.895..
n=12 years


Remember
One of the properties of logarithmic equations is that log(a^b) = b*log(a).

 

[BLIT2014]

P.S You can check by subbing n=12 into A=10000(1.06)^n

 

[braintic]

2=10000(1.06)^n

You might want to correct this line.