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This sounds like my core 2 mathematics from last year, it sounds like a geometric progression. your talking about interest, yes?

3000x1.02^n = 6000

6000/3000 = 2

1.02^n = 2

log (base 1.02) 2 = n

n= 35?

I'm not quite sure if that's right.

Another reply: The exact answer is log(2) / log(1.02) (logarithm in any base, same base for both). Almost exactly 35 years. (1.02 is 1 + 2%). For a quick estimate, divide 70% by the interest rate, in this case, 2% - this gives you 35 years. This is a rough formula, that will fail for higher percentages.

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13y ago

What else can I help you with?