mattce wrote:
Hey, not 100% sure what the best way of doing this would be, but here was my approach:
34.1% is just over 1/3, so essentially we want to solve the following equation:
(4/3)^x = 3
4/3 * 4/3 = 16/9 ~ a little less than 1.8
(a little less than 1.8)^2 ~ a little more than 3.
So our answer was (4/3)^4; i.e, 4 years of compounding.
34.1% is just over 1/3, so essentially we want to solve the following equation:
(4/3)^x = 3
4/3 * 4/3 = 16/9 ~ a little less than 1.8
(a little less than 1.8)^2 ~ a little more than 3.
So our answer was (4/3)^4; i.e, 4 years of compounding.
Can you explain this a little more?
Where do you come up with (4/2)^x = 3?
Why are you multiplying 4/3*4/3?