How long it will take for $300 to double when invested at 6% annual interest compounded twice a year?
Answer:
A)10.3 years
B)11.7 years
C)12.5 years
D)13.1 years
E)13.7 years
This is my last question

Question

anonymous · Answer

$$600=300(1.06)^x$$ solve for x

anonymous · Answer

no that is wrong

anonymous · Answer

$$600=300(1+\frac{.06}{2})^{2x}$$ solve for x

anonymous · Answer

$$600=300(1.03)^{2x}$$
$$2=(1.03)^{2x}$$ and right away  you see that the 300 and 600 were not really part of the problem
doubling time just means doubling time

anonymous · Answer

$$(1.03)^{2x}=2$$
$$2x=\frac{\ln(2)}{\ln(1.03)}$$
$$x=\frac{\ln(2)}{2\ln(1.03)}$$ then a calculator

anonymous · Answer

i get 11.7