Answer:
10.52 years
Explanation:
We can work out the number of years using this relationship
V =P× (1+r)^n
V= tribe valeu = 3×3.5 = 10.5
r-growth rate -11%
n- number of years- ?
10.5 = 3.5× (1.11)^n
dividing both sides by 1.11^n
1.11^n = 10.5/3.5
taking the log of both sides
n log 1.11 = log 3
n = log 3/log 1.11
n =10.52
