The Number of Years T It Takes for an Investment $t = \frac { \ln 2 } { \ln ( 1 + r ) }$

question 85

Multiple Choice

The number of years t it takes for an investment to double if it earns r percent (as a decimal) , compounded annually, $t = \frac { \ln 2 } { \ln ( 1 + r ) }$ . How long will it take for prices in the economy to double at a 13% annual inflation
Rate? Round to the nearest year.

• A) 23 yr
• B) 5 yr
• C) 6 yr
• D) 9 yr

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