Asked by Ernie
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
Answered by
Reiny
e^(.07t) = 2
.07t lne = ln2
t = ln2/.07 = appr 9.9 years
.07t lne = ln2
t = ln2/.07 = appr 9.9 years
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