what interest rate would you need to double a $4000 investment in 17 years

Question

Advance Math Problems

Answer 1

kompound interest

tu dubel yer munee in 17 yeers

assume kompount per yeer

(1+r)^17=2

log[(1+r)^17] = log(2)

17*[log(1+r)] =log(2)

log(1+r) =log(2)/17

for base=10, log(2)=0.301029995

divide bi 17...0.017707646

10^0.017707646=1.041616

so r=0.041616...4.1616%