Question
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
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%