Asked by cade
If the initial investment of 1000 doubles in value in 9.8 years find the rate for continous compounding.
so the formula would be A=Pe^rt but where do the numbers go and how do u solve it?
Thanks!
so the formula would be A=Pe^rt but where do the numbers go and how do u solve it?
Thanks!
Answers
Answered by
drwls
2000 = 1000*e^9.8r
2 = e^9.8r
ln2 = 9.8r
r = 7.073%
2 = e^9.8r
ln2 = 9.8r
r = 7.073%
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.