1. PV =45000
FV =280000
Number of years =18
Rate=(FV/PV)^(1/n)-1 =(280000/45000)^(1/18)-1 =10.69%
2. FV =2
PV =1
FV=PV*(1+r)^n
2=1.05^n
Applying log on both sides
n=log(2)/Log(1.05)=14.21 years
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