SOLUTION: An investor with interest compounded continuously doubled in 15yr. What is the interest rate?
Algebra.Com
Question 140737: An investor with interest compounded continuously doubled in 15yr. What is the interest rate?
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
A=balance in account with principal P annual interest rate r and time in years t.
Let P=1
A=Pe^(rt)
2=e^15r
ln(2)=15r Take ln of both sides. Since the ln(e^15r)=15r
r=ln(2)/15
4.621...%
.
Ed
RELATED QUESTIONS
An investment with interest compounded continuously doubled itself in 10 years. What is... (answered by josgarithmetic)
An investment with an interest compounded continuously doubled itself in 12 years. What... (answered by Theo)
An investment with interest compounded continuously doubled itself in 16 yr. What is the... (answered by Theo)
An investment with interest compounded continuously doubled itself in 16yr. What is the... (answered by solver91311)
An investment of $20,000.00 will be doubled in 14 years with interest compounded... (answered by stanbon)
An investment with interest compounded continuously doubled itself in 16yr. What is the... (answered by Alan3354)
Solve. Where appropriate, include approximations to four decimal places.
An investment... (answered by rfer,MathTherapy)
$800 is deposited in an account with a 9% interest rate, compounded continuously. what is (answered by ikleyn)
what interest rate is required for an investment with continuously compounded interest to (answered by jim_thompson5910)