SOLUTION: how long does it take for a deposit of $1200 to double at 10% compounded continuously?
Algebra.Com
Question 365289: how long does it take for a deposit of $1200 to double at 10% compounded continuously?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
how long does it take for a deposit of $1200 to double at 10% compounded continuously?
-------------------------
A(t) = P*e^(rt)
-----
2400 = 1200*e^(0.10*t)
----
2 = e^(0.10t)
---
Take the log of both sides.
0.10t = ln(2)
t = ln(2)/0.10
---
t = 6.93 years
==================
Cheers,
Stan H.
==================
RELATED QUESTIONS
how long does it take for a deposit of $900 to double at 10% compounded... (answered by stanbon)
How long does it take for a deposit of $ 1200 to double at 4​% compounded​... (answered by MathLover1)
how long does it take for a deposit of $900 to double at 2% compounded... (answered by lwsshak3)
How long does it take for a deposit of $ 900 to double at 4% compounded... (answered by solve_for_x)
Suppose you want to know how long will it take $1200 to double if it is invested at... (answered by ikleyn)
How long will it take to double an investment compounded continuously at a rate of... (answered by lwsshak3)
How long does it take for $1875 to double if it is invested at 10% compounded... (answered by Theo)
How long does it take for $1875 to double if it is invested at 10% compounded... (answered by Boreal)
How long does it take $1000 to double if invested at 7% interest compounded... (answered by gonzo)