Suppose you deposit $10,000 in a savings account that earns an interest of 10.41% per year. In how many years will your savings double (round to nearest whole number)? Note: use the formula for FV and note that here you have a future value ($20,000), a current amount ($10,000), an interest rate (10.41%), but you are missing the number of periods n. Use algebra to solve for it.
Now suppose the interest rate is only 2.0% per year. In how many years will your savings double?