Question

Some time ago you invested $10,000 at interest. You know the formula for money, M(t), in terms of time t is
M(t)=10000(1.0325)^t
where t is measured in years. When does the investment double? This is time from time zero, the day you made the investment.

Answer 1

At time zero, the amount is $10,000.
The task is to find when the amount will be $20,000.

M(t)=10000(1.0325)^t

20,000 = 10,000* (1.0325)^t

2 = (1.0325)^t

Solve that equation for t. -->@theworldfines1

Post what you can and we can compare answers, okay?

Answer 2

Thanks for the tip. This is what i came up with.
(1.0325)^t=2
t In(1.0325)=In(2)
t = In(2)/In(1.0325)

Answer 3

Crank out those natural logs to get a numerical value for t.

Answer 4

Post what you get.

Answer 5

@theworldfines1

Answer 6

21.67