Find the doubling time for 10.4% inflation using the methods below. a. logarithms or a graphing calculator b. the rule of 70 or 72, whichever is appropriate a. The doubling time is years. (Round to two decimal places as needed.) b. The doubling time is years. (Round to two decimal places as needed.) Enter your answer in each of the answer boxes.
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The time $t$ in years for an amount increasing at a rate of $r$ (in decimal form) to double is given by $$t(r)=\frac{\ln 2}{\ln (1+r)}$$ This is called doubling time. Find the doubling time to the nearest tenth for an investment at each interest rate. (a) $2 \% \text { (or } 0.02)$ (b) $5 \% \text { (or } 0.05)$ (c) $8 \% \text { (or } 0.08)$
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The time $t$ in years for an amount of money invested at an interest rate $r$ (in decimal form) to double is given by $$ t(r)=\frac{\ln 2}{\ln (1+r)} $$ This is the doubling time. Find the doubling time to the nearest tenth for an investment at each interest rate. (a) $2 \%($ or 0.02$)$ (b) $5 \%($ or 0.05$)$ (c) $8 \%$ (or 0.08 )
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