SOLUTION: How long does it take for $1425 to double if it is invested at 7.5% compounded continuously? Round your answer to two decimal places, if necessary.
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Question 1140177: How long does it take for $1425 to double if it is invested at 7.5% compounded continuously? Round your answer to two decimal places, if necessary.
Answer by math_helper(2461) (Show Source): You can put this solution on YOUR website!
r = annual interest rate (as a decimal value)
t = number of years
P = present value
F = future value
The problem can be solved without using $1450, as it is the same doubling time
for any starting principal (the P's cancel):
or about 9.24 years (approx 9 years 3 months)
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