After n years of 7 percent growth, the value is (1.07)n times the starting value.
The answer to the question is the smallest value of n such that (1.07)n >=2
or nlog(1.07)>= log(2)
or n >= log(2)/log(1.07) = 10.2
So the GDP will double during the 11th year.
33 years
If the interest rate was eight percent, it would take about 9 years to double your principle.
10 years
Approx 69.661 years if the interest is compounded. 100 years otherwise.
I haven't gotten the answer to that test question either....the choices seem wrong
33 years
9.0065 years.
If the interest rate was eight percent, it would take about 9 years to double your principle.
14.2067 years.
It depends on what the original rate of growth is.
10 years
It will take 19 years to double the initial population. 2=1(1.20)^t/5 t/5=log2/log1.2 t/5=3.802 t=19.01 years
11 years
jo mama
It will take 25 years for a 100 to double check if you have a simple interest of 4 percent.
10 years
Approx 69.661 years if the interest is compounded. 100 years otherwise.