Answer
$22.7$
Work Step by Step
Using the formula the equation is: $2x=x(1+0.01\cdot3.1)^n\\2=(1+0.01\cdot3.1)^n\\n=\log_{1+0.01\cdot3.1}2\approx22.7$
College Algebra (10th Edition)
by Sullivan, Michael
Published by
Pearson
ISBN 10:
0321979478
ISBN 13:
978-0-32197-947-6
Chapter 6 - Section 6.7 - Financial Models - 6.7 Assess Your Understanding - Page 477: 71
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