The actual interest rate depends upon the number of times that the investment is compounded per year.
Assuming that it is compounded once per year, using the compound interest formula:
A = P(1 + r)^t
with A = 2 (representing twice the initial value), P = 1 (representing the initial value), and t = 15:
2 = 1(1 + r)^15
---> 2 = (1 + r)^15
Taking the 15th root of both sides:
---> 2^(1/15) = 1 + r
---> 1.04729 = 1 + r
---> 0.04729 = r
If you have a problem in which the compounding is more than once per year, or is compounded continuously, repost...