Jala put 600 in an interest bearing

To find the number of years an initial capital will double, we use the following approximation:

Number of years needed to double a capital = 70/interest rate (without the %) The rate being 5, Number of years = 70/5 = 14 years,

Proof: (Remember te formula of compound interest A = P (1+interset) ⁿ

1200 = 600 (1+5%) ⁿ1200/600 = (1.05) ⁿ2 = (1.05) ⁿln (2) = (n) ln (1.05) 0.693147181 = (n) (0.048790164)

n = 0.693147181/0.048790164n = 14.26 years ≈ 14 years