at 7.3% how long to double your money? quadruple it? Present value Years Interest Rate Future...

Question

Question

at 7.3% how long to double your money? quadruple it?

business finance

Answer 1

Answer #1

t = ln(FV / PV) / ln(1 + r)

t = ln($2 / $1) / ln 1.073 = 9.84 years

t = ln($4 / $1) / ln 1.073 = 19.68 years

Answer 2

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