Pt = Po*e^rt.
Pt = 1400*e^rt = 2800,
1400*e^rt = 2800,
Divide both sides by 1400:
e^rt = 2,
Take ln of both sides:
rt*lne = ln2,
Divide both sides by lne & get:
rt = ln2 / lne,
lne = 1,
rt = ln2 / 1,
rt = 0.6931,
0.07t = 0.6931,
t = 0.6931 / 0.07 = 9.902 Years.
how long does it take for a deposit of $1400 to double at 7% compounded continously
it would be awesome if you could also tell me how to do it...
1 answer