Answered

You want to invest
$10,000 dollars. How long will it take to double your investment at an annual
interest rate of 10%, compounded continuously? (Round your answer to the
nearest year)
Using equation A=Pe^rt
^=exponent

Sagot :

using the equation         >    A  =  Pe^rt

20000  =    10000e^0.1t    >       10%  =  0.1
 2  = e^0.1t
log 2  =    log e^0.1t               >     log to the base e
log 2  =  0.1t * 1              log e to the base e  =1
0.6931 = 0.1t
t =   6.931
   =    7 years

ID Other Questions