SOLUTION: Determine the time necessary for $1000 to double if it is invested at interest rate r=10% compounded continously.

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Question 438962: Determine the time necessary for $1000 to double if it is invested at interest rate r=10% compounded continously.
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi
Determine the time necessary for $1000 to double
if it is invested at interest rate r=10% compounded continously.
2000 = $1000e^(.10*t) Compounding continously
ln (2000/1000) = .10t
6.9315 yrs = t
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