Patrick B. answered • 08/31/19
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1.46P = P(1.029)^T
1.46 = 1.029^T
Log 1.46 = T * Log 1.029
T = Log 1.46/1.029 = 13.2378
13 years 3 months
Allie L.
asked • 10/10/18Compound Interest Loan
How many years would it take for the debt of a compound interest loan to grow by 46% if the annual compound interest rate is 2.9%?
Round your answer to the nearest tenth of a year.
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