SOLUTION: You are investing money at 9.5 percent annual interest, compounded continuously. It will take you {insert here} years to double your investment.

Question 1198969: You are investing money at 9.5 percent annual interest, compounded continuously. It will take you {insert here} years to double your investment.
Answer by Shin123(626) (Show Source): You can put this solution on YOUR website!
The formula for continuous compounding is , where is the principal, is Euler's number, is the interest rate, and is the number of years.
We are trying to find in the equation . Since we know that the interest rate is , we can put that into the equation to get . Dividing both sides by , we get . Taking the natural log of both sides, we get . Finally, dividing both sides by gives us . Plugging into a calculator, we get that is approximately years.
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