How long will it take to make your investment double if the expected annual return is 15%? |
5 years
6 years
4 years
3 years
Present Value = Future Value / (1+r)^n
Present Value be X
Future Value be 2X
X = 2X / (1+0.15)^n
1 = 2 / (1+0.15)^n
1.015^n = 2
Taking log both sides
n * Log1.15 = Log 2
n * 0.06069784035 = 0.30102999566
n = 0.30102999566 / 0.0646604224
n = 4.65 OR 5 years (approx)
Option A is correct.
How long will it take to make your investment double if the expected annual return is...
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