Answer:
43.667 years
Step-by-step explanation:
Simple Interest Rate Formula: A = P(1 + r)ⁿ
Step 1: Define variables
A = 10,000
P = 5,000
r = 0.016
n = unknown
Step 2: Substitute variables
10,000 = 5,000(1 + 0.016)ⁿ
Step 3: Solve for n time
2 = (1.016)ⁿ
[tex]\log_{1.016}2[/tex]
43.667 years
