Money grows by 10% per year (compound): A = A0(1.10)^t. About how many years until it becomes 2 times as much? (use logarithms)

  1. 10.0 years
  2. 7.3 years
  3. 5.3 years
  4. 9.3 years
Answer

B) 7.3 years

(1.10)^t = 2 Rightarrow t = log 2log 1.10 approx 7.3 years. SLO M-09-A-08 · Application

Mathematics MCQ · More Real Numbers MCQs · Practise