The Number of Periods Needed to Double an Investment When $\mathrm { n } = \log _ { 1.01 } 2$

question 93

Multiple Choice

The number of periods needed to double an investment when a lump sum is invested at 2%, compounded semiannually, is given by n $\mathrm { n } = \log _ { 1.01 } 2$ 2. Use the change of base formula to find n, rounded to the nearest tenth.

• A) 72.7 periods
• B) 69.7 periods
• C) 74.7 periods
• D) 65.7 periods