# Some investors want to know the "doubling time" of an investment—that is, the amount of time it will take for the investment to grow to twice its initial value. Suppose the value of an investment in an account earning an annual interest rate of 12% compounded daily grows according to the equation A = A0 1 + 0.12365 365t , where A0 is the initial value of the investment and t is the time in years. Find the doubling time for the investment. Round to the nearest year.t =  yr

Question

Some investors want to know the "doubling time" of an investment—that is, the amount of time it will take for the investment to grow to twice its initial value. Suppose the value of an investment in an account earning an annual interest rate of 12% compounded daily grows according to the equation

A = A0 1 +
 0.12 365
 365t
,

where

A0

is the initial value of the investment and t is the time in years. Find the doubling time for the investment. Round to the nearest year.
t =  yr

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Step 1

The given equa...

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