Math Problem Statement

Solution

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Math Problem Analysis

Mathematical Concepts

Compound Interest
Growth Rate
Doubling Time
Logarithms

Formulas

A = P(1 + r)^t
r = (A/P)^(1/t) - 1
t = ln(2) / ln(1 + r)

Theorems

Compound Interest Formula
Logarithmic Time Formula for Doubling

Suitable Grade Level

Grades 10-12 (High School or Early College Level)