Respuesta :

Edufirst
I will assume monthly compound interest.

Then:

yearly interest: 12%
monthly interest = (3/12) % 
invested money: C
Final money: 2C
n: number of months

Compund interest formula:

Final money = Invested money * (1 + 0.03/12)^n

2C = C * (1.0025)^n

2C/C = (1.0025)^n

2 = (1.0025)^n

n = log(2) / log (1.0025)

n = 277.6 months

Time = 278 months = 23.1 years



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