Incorrect.

Starting with $\displaystyle{r}={0.054}\usepackage{cmbright}\Huge\$ and $\displaystyle{m}={6}\usepackage{cmbright}\Huge\$ , you can find out when: $\displaystyle{2}{P}={P}{{\left({1}+\frac{{0.054}}{{6}}\right)}}^{{{6}{t}}}\usepackage{cmbright}\Huge\$

Simplify the expression in parentheses and divide both sides by P. Take logarithms of both sides. Use the power property of logarithms to get the variable out of the exponent. Divide to get t by itself. Use a calculator to evaluate logarithms and find the quotient. Round to the nearest whole year.