Respuesta :
10.24 years it will take an account With $100 To Double To $200. If you Earn 7% Per Year On Your Bank Account.
Number of years = In(Future value /present value ) /In(1+r)
= In(200/100)/In(1+.07)
=In(2)/In(1.07)
= .6931472/.06765865
= 10.24 years
A bank account is a type of financial account that is kept by a bank or other financial organization and is used to record financial transactions between the bank and its clients. Every financial institution determines the terms and conditions for every form of account it provides.
These bank account are categorized into categories that are easily understood, such as deposit accounts, credit card accounts, current accounts, loan accounts, or many other sorts of accounts. A client could have multiple accounts. After an account is formed, deposits made by the customer to the financial institution are recorded in the account they chose. Money can be taken out of loan loaders.
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