SOLUTION: maya has deposited $600 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double? Thank you so much for your help!!

Question 207168: maya has deposited $600 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double?
Thank you so much for your help!!
Answer by jojo14344(1513) (Show Source): You can put this solution on YOUR website!

If interest is continously compounded, then we use the formula,

where

Then,
--->

--->
, Answer or 12 yrs, 3 mos. & 14 days

Thank you,
Jojo

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