Asked by Anonymous
Sally made an initial deposit into an account bearing an interest rate of 7% compounded continuously. How long will it take for Sally's initial deposit to double in value?
Answers
Answered by
Reiny
solve
2 = e^(.07t)
hint: take ln of both sides and use your log rules
remember ln e = 1
2 = e^(.07t)
hint: take ln of both sides and use your log rules
remember ln e = 1
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.