SOLUTION: Suppose $9,200 is invested in an account at an annual interest rate of 2.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to doubl

Question 1116509: Suppose $9,200 is invested in an account at an annual interest rate of 2.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double in size?
Answer by greenestamps(13214) (Show Source): You can put this solution on YOUR website!

The amount is irrelevant; whatever the amount is it will double in the same amount of time.

We want the final amount A to be twice the original amount P; the equation is then

The given interest rate is 2.5% = .025, so

to 3 decimal places.

Answer: the amount will double in about 27.726 years.
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