Interest 81982

The bank offers interest on the deposit of 4 percent per annum. In how many years will the deposit double?

Correct answer:

n =  17.673

Step-by-step explanation:

r=100%+4%=1+1004=1.04  rn = 2  n   ln r = ln 2  n=lnrln2=ln1.04ln2=17.673

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