Question

does anyone know how to find the compounding interest that has a doubling time of 9 years?

Answer 1

i believe you can do this by using the follownig formula

2000 = 1000(1 + x)^y
where x = annual rate and y = the number of years

Answer 2

Roughly 4.61%

Answer 3

by trying various values x you can solve for y using logs x must be a decimal - ie 4% is written as .04

Answer 4

if my formula is correct you would double with interest rate of about 8.1%. I'm not sure of this formula though.

Answer 5

Sorry my percentage is incorrect, you should obtain an answer of about 8.002%

Answer 6

i just checked my answer by adding 8.1% compound interest each year and it worked out to that 1000 increased to 2015 after nine years so this figure is roughly correct.

Answer 7

yes meth