Question

1.

1. How long will it take to double your money with an interest rate of 10 percent?
2. 20 percent? -42,424.174
3. 40 percent? - 7,547.168
4. What about tenfold increase in your money with a growth rate of 50 percent? - 62.4213

So I know the answers already but I need help explaing and articulatong. So a step by step detailed walkthrough like your explaining it to a baby ;like over detailed. and like a detailed solution conclusion which wraps it all up -talks about how I got the answer Like how i came about the prolem statgey and thinking wise,  how i approached it, what formulas I used step by step and how that gave me the answer all wrqapped up in the conclusion..

1. The same formulas with data from a problem plugged in;
2. Short verbal comments for each step of each problem summarizing your findings;
3. A brief verbal conclusion at the end of each problem;

I LOVE YOU IF YOU HELP ME THANK YOU

Answer 1

1 . a . Since amount is doubled . Hence FV/PV = 2
Formula
FV = PV *(1+r)ⁿ
FV/PV = (1+10%)ⁿ

2= 1.1ⁿ
Applying log on both sides we get
log 2 = log(1.1ⁿ)
n = Log(2)/log(1.1) = 7.27 years

b Formula
FV = PV *(1+r)ⁿ
FV/PV = (1+20%)ⁿ

2= 1.2ⁿ
Applying log on both sides we get
log 2 = log(1.2ⁿ)
n = Log(2)/log(1.2) = 3.80 years

c. Formula
FV = PV *(1+r)ⁿ
FV/PV = (1+30%)ⁿ

2= 1.3ⁿ
Applying log on both sides we get
log 2 = log(1.3ⁿ)
n = Log(2)/log(1.3) = 2.64 years

d. Since amount is doubled . Hence FV/PV = 10
Formula
FV = PV *(1+r)ⁿ
FV/PV = (1+50%)ⁿ
10 = 1.5ⁿ
log 10 = log(1.5ⁿ)
n = Log(10)/log(1.5) = 5.68 years

Such questions can be calculated using log in formulas

Please Discuss in case of Doubt

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