How long does it take an investment to double if interest is computed as compound interest

How long does it take an investment to double if interest is computed as compound interest if the rate is 2%

Answers
That depends on the rate of interest . Any accurate explanation wouldwhether or not you have learned about exponentials and logs.
Ian S.
28 June 2013
As an example, at 5 percent it would take 14.21 years or just over14
Ian S.
28 June 2013
This will require an understanding of logs and exponentials. The following equation can be used to calculate this: FV = PV × (1+r)n where:
ovarn_campbell
30 June 2013
FV = future value, PV = present value, r = interest rate and n = number of years
ovarn_campbell
30 June 2013
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