Answer:
22 years.
Step-by-step explanation:
(continued), How long will it take the 5000 Swiss Francs to accrue to 10000 = 2 x 5000 Swiss Francs.
Define T as
T = the time to double the investment.
Then, we have that
10000 = 5000(1 + 3.25%)^T
2 = (1 + 0.0325)^T
2 = (1.0325)^T
ln(2) = ln [ (1.0325)^T ]
ln(2) = T ln (1.0325)
T = ln(2) / ln(1.0325)
T = 21.6723317643
T = 22 years, rounded to the nearest year.
