2006-08-04 13:14:42 · 4 answers · asked by mr_gillespie2003 1 in Science & Mathematics ➔ Mathematics
The previous poster didn't understand the question. The actual time would be about 72/4=18 years by the 'rule of 72'.
If you want an exact answer, solve for t in
(1+ .04/365)^(t*365) =2.
This gives 17.33 years.
Another way to get an approximate answer is to compute
ln(2)/.04.
Oops, the following poster was right. I doubled, not tripled. Sorry. So do ln(3)/.04=1.09/.04=27 years.
2006-08-04 13:32:59 · answer #1 · answered by mathematician 7 · 0⤊ 0⤋
mathmetician is an idiot too. the money only doubles in 18 years. it triples in just about 27 years
2006-08-04 14:46:09 · answer #2 · answered by iberius 4 · 0⤊ 0⤋
If you mean 4% interest per annum, (APY), then it will take 10,025 days, or 28.0 years, no matter how much principal you have. If you mean that you earn 4% interest per day (highly unlikely), then the answer above mine is correct.
2006-08-04 13:20:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
3 = (1 + (.04/365))^(365t)
3 = (1.000109589041...)^(365t)
ln3 = (365t)ln(1.000109589041...)
t = (ln3)/(365ln(1.000109589041...))
t = 27.466812137557...
ANS : about 27 years and 6 months
2006-08-04 16:17:59 · answer #4 · answered by Sherman81 6 · 0⤊ 0⤋