Question
Find the doubling time of an investment earning 7% interest if interest is compounded continuously is ____years.
Round to the nearest tenth of a year.
Round to the nearest tenth of a year.
Answers
Reiny
e^(.07t) = 2
.07t lne = ln2
t = ln2/.07 = appr 9.9 years
.07t lne = ln2
t = ln2/.07 = appr 9.9 years