SOLUTION: 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.
Algebra.Com
Question 928787: 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.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
A = P e ^(rt)
2 = e^(.07t)
ln(2)/.07 = t = 9.9yr
RELATED QUESTIONS
Doubling time of an investment earning 2.5 interest if interest is compounded... (answered by lwsshak3)
Find the interest rate needed for an investment of $5600 to double in 7 yr if interest is (answered by lwsshak3)
Kyle invests in an account earning 4.5% interest compounded continuously. How long will... (answered by Theo)
If P rand is invested for t years at interest rate r, compounded continuously, then the... (answered by jorel1380)
Use logarithms to solve the problem.
I need to find the interest rate needed for an... (answered by lwsshak3)
$24,000 is deposited for 5 years in an account earning 7% interest. (Round your answers... (answered by Theo)
$24,000 is deposited for 5 years in an account earning 7% interest. (Round your answers... (answered by greenestamps)
A deposit of $1000 is made into a fund with an annual interest rate of 10%. Find the... (answered by stanbon)
The formula A=2000e^rt can be used to find the dollar value of an investment of $2000... (answered by stanbon)