Asked by Jake

Complete the table for a savings account in which interest is compounded continuously.

initial investment = $600
annual % rate = ?
time to double ?
Amount after 10 years = $19,205.00

I have no idea how to solve this.
Answered by Reiny
Neither do I, since you don't have enough information.

Either you have to tell me what the rate is, or the time for doubling.
Answered by Reiny
sorry, you do have enough information, but please please tell me where I can invest $600 and have it grow to $19205 in 10 years

19205 = 600(1+i)^10
32.008 = (1+i)^10
take the 10th root
1.414 = 1+i
i = .414 or 41.4% interest if compounded annually
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