In how many years will a certain amount double, if it attracts 5%
interest rate compounded annually?

In about 14.21 years a certain amount will double if it attracts 5%  interest rate compounded annually

Step-by-step explanation:

The formula for compound interest, including principal sum, is

 , where

∵ A certain amount is double in t years

- That means A is double P

∴ A = 2 P

∵ It attracts 5%  interest rate compounded annually

∴ r = 5% = = 0.05

∴ n = 1 ⇒ compounded annually

- Substitute all of these values in the formula above

∵

∴  

- Divide both sides by P

∴  

- Insert ㏑ for both sides

∴

- Remember = t . ㏑(1.05)

∴ ln(2) = t . ㏑(1.05)

- Divide both sides by ㏑(1.05)

∴ 14.2067 = t

- Round it to the nearest hundredth

∴ t = 14.21 years

In about 14.21 years a certain amount will double if it attracts 5%  interest rate compounded annually

i get you, what you should do is think of the positive things that would come out of it. it will make yours parents proud and raise your grade. you should always try and if you can't focus tell the teacher.

the opening of this porabola is facing up

step-by-step explanation: