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Originally posted by Manhater
I think what I am having a problem with, is that 9>2 Radical - 1 and how they come up with the answer 0.0801 then I times it with 100 for the rate.
Amount = double = 200
n= 15 years
compounded annualy = q=1
i = rate of interest =?
Formula for compound interest
i = q([A/P]^1/nq - 1).
rate = 4.729%
Originally posted by TurkeyTots
reply to post by pheonix358
Inflation doesn't matter in this scenario, as it will only affect the money's worth/value, not the actual number. The problem is to double the amount, not to double the amount it's worth.
Originally posted by swan001
Wow. Mathematicians talk. Facinating...