Answer:
1.027t = 2
Step-by-step explanation:
Given that :
Saving account earns 2.7% interest yearly
The number it will take for the account to double
Let
Number of years = t
Interest earned yearly = 2.7% = 0.027
Amount = p(1 + rt)
Where P = principal
R = rate ; t = time in years, A = final amount
If p = 1 ;
For account to double,
Final amount = 2 * principal (p)
final amount = 2 * 1 = 2 ; hence, Final amount = 2
2 = 1(1 + 0.027t)
2 = 1 + 0.027t
2 = 1.027t
