# how many years would it take for the debt of a compound interest loan to grow by 32% if the annual compound interest rate is 4.8%

How many years would it take for the debt of a compound interest loan to grow by 32% if the annual compound interest rate is 4.8%
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Duncan Kaufman
Let initial amount is P
Amount,
$A=P\left(1+\frac{4.8}{100}{\right)}^{t}\phantom{\rule{0ex}{0ex}}⇒\frac{132}{100}=\left(\frac{104.8}{100}{\right)}^{t}\phantom{\rule{0ex}{0ex}}⇒1.32=\left(1.048{\right)}^{t}\phantom{\rule{0ex}{0ex}}\mathrm{ln}1.32=t\mathrm{ln}\left(1.048\right)\phantom{\rule{0ex}{0ex}}t=5.92$