It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
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.
Assume P=100
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).
i=1*((200/100)^(1/15*1)-1)
i=0.0472
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...