Answer:
The time is 13.7 years.
Step-by-step explanation:
principal, P = 28000
Rate of interest , R = 4 % annually
Amount, A = 48000
Let the time is t.
Use the formula of the compound interest.
[tex]A = P\times \left ( 1+\frac{r}{100} \right )^t\\\\48000 = 28000\times \left ( 1+\frac{4}{100} \right )^t\\\\1.71 = 1.04^t\\\\log 1.71 = t log 1.04\\\\t =\frac{0.233}{0.017}\\\\t = 13.7 years[/tex]
