you win $100,000 and invest it in a GIC that earns 5% annum. when will it double in value

Question

please solve. you win $100,000 and invest it in a GIC that earns 5% annum. when will it double in value

Answer 1

200,000 = 100,000(1.05)^t

2 = 1.05^t

 

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