311.

413.2

2.You have $1000 and you want $2000. If you invest your money at 12%, how long will it take you to get to your goal of $2000? (4)

Your answer will have to be approximately 6 years (rule of 72). The exact answer is:

$$n = \frac{\ln(\frac{FV}{PV})}{\ln(1+r)} = \frac{\ln(\frac{2000}{1000})}{\ln(1+.12)} = 6.1116 \text{years} $$

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