SOLUTION: How long does it take for an investment to double in value if it is invested at 16% compounded monthly question mark Compounded continuously?
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Question 1153391: How long does it take for an investment to double in value if it is invested at 16% compounded monthly question mark Compounded continuously?
Answer by MathLover1(20849) (Show Source): You can put this solution on YOUR website!
Use the formula
%=
-compounded monthly
you want (double your money)
.......use natural log
≈ years
Compounded continuously:
you want , and %=
.....use natural log
≈ years
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