How long would it take double $1,000 at 5% compound interest
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How long would it take double $1,000 at 5% compound interest

[From: ] [author: ] [Date: 12-03-31] [Hit: ]
2.3.4.5.6.7.......
2 = 1.05^t
Solve for t,
ln2 = tln1.05
t = ln2/ln1.05 = 14.2 years

-
1000 x 5 % = 50
1000 / 50 = 20

1. ) 1000 x 5 % = 50
2. ) 1000 x 10 % = 100
3. ) 1000 x 15 % = 150
4. ) 1000 x 20 % = 200
5. ) 1000 x 25 % = 250
6. ) 1000 x 30 % = 300
7. ) 1000 x 35 % = 350
8. ) 1000 x 40 % = 400
9. ) 1000 x 45 % = 450
10. ) 1000 x 50 % = 500
11. ) 1000 x 55 % = 550
12. ) 1000 x 60 % = 600
13. ) 1000 x 65 % = 650
14. ) 1000 x 70 % = 700
15. ) 1000 x 75 % = 750
16. ) 1000 x 80 % = 800
17. ) 1000 x 85 % = 850
18. ) 1000 x 90 % = 900
19. ) 1000 x 95 % = 950
20. ) 100 x 100 % = 1000

My answer :
20

But if you mean, 5 % each year without withdrawal, my answer is below.

1. ) 1000 x 5 % = 50
2. ) 1050 x 5 % = 52.50
3. ) 1102.5 x 5 % = 55.125 -----> 55.13
4. ) 1157.63 x 5 % = 57.88125 -----> 57.88
5. ) 1215.51 x 5 % = 60.7755 -----> 60.78
6. ) 1276.29 x 5 % = 63.8145 -----> 63.81
7. ) 1340.1 x 5 % = 67.005 -----> 67
8. ) 1407.1 x 5 % = 70.355 -----> 70.36
9. ) 1477.46 x 5 % = 73.873 -----> 73.87
10. ) 1551.33 x 5 % = 77.5665 -----> 77.57
11. ) 1628.9 x 5 % = 81.445 -----> 81.44 ( 4 is an even number, look for the rules of rounding-off )
12. ) 1710.34 x 5 % = 85.517 -----> 85.52
13. ) 1795.86 x 5 % = 89.793 -----> 89.79
14. ) 1885.65 x 5 % = 94.2825 -----> 94.28
15. ) 1979.93 x 5 % = 98.9965 -----> 99
16. ) 2078.93
1
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