If you earn 10% per year on your bank account, how long will it take an account with $105 to double to $210? Do not round intermediate celculations. Round your answer to 2 decimal places.) Number of years .

n= 7.27 years

Explanation:

Giving the following information:

Interest rate= 10%

Future value (FV)= $210

Present value (PV)= $105

To calculate the number of years to double the investment, we need to use the following formula:

n= ln(FV/PV) / ln(1+i)  

n= ln(210/105) / ln(1.1)

n= 7.27 years

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

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