If the initial deposit is $2000 and the doubling time is 15 yrs, what is the annual rate (%) and the amount in 30 years?
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ASSUMING IT IS COMPOUNDED ANNUALLY
4000 = 2000 ( 1 + R /100)^15
R = 4.729
In 30 years 2000$ @4.729% will grow to 7999.06 $ ANSWER
4000 = 2000 ( 1 + R /100)^15
R = 4.729
In 30 years 2000$ @4.729% will grow to 7999.06 $ ANSWER