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Math Help - profit

  1. #1
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    profit

    I have no idea how to do problems dealing with doubling time.

    the question is:

    A company's profits are increasing by an annual growth factor of 1.12
    find the doubling time.

    Any help would be great!
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  2. #2
    Senior Member vincisonfire's Avatar
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    Reply

    A=a*1.12^t where a is A(0).
    You assume A=2a thus you solve 2a=a*1.12^t
    That is 2=1.12^t
    Use log properties (wikipedia) to solve de previous equation
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