No, it is not ok.
2=e^.12t
ln2=.12t
.693=.12t
t=less than six years. Do the dang math, OK?
You want to make an investment in a continuously compounding account earning 12.6% interest. How many years will it take for your investment to double in value? Round the natural log value to the nearest thousandth. Round the answer to the nearest year.
I got 10 years is it OK?
1 answer
1 answer