Math Problem Statement
Solution
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Math Problem Analysis
Mathematical Concepts
Exponential Growth
Compound Interest
Logarithms
Formulas
Compound Interest Formula: A = P(1 + r/100)^t
Doubling Time Formula: 2 = (1 + r/100)^t
Logarithmic Formula: t = ln(2) / ln(1 + r/100)
Theorems
Logarithm Properties
Suitable Grade Level
Grades 10-12
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