Question

Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.)

Initial Investment== ?
Annual % Rate== ?
Time to Double== 11YRS
Amount After 10 Years== $1600

Using formula A=Pe^rt ?

Answer 1

2 = e^(11r)

r = ln(2) / 11


1600 = P e^[10 ln(2) / 11]

Answer 2

Thank you so much!