Chapter 12.3, Problem 49E

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11th Edition

Ronald J. Harshbarger + 1 other

ISBN: 9781305108042

Textbook Problem

** Compound interest** If $

**(a)**

To determine

**To calculate:** The future value at the end of

Explanation

**Given Information:**

An amount of

**Formula used:**

The logarithm formula is

**Calculation:**

Consider that if

**(b)**

To determine

**To calculate:** The number of years after which the future value will double when an amount of

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