SOLUTION: How long will it take for an investment of $1000 to double in value if the interest rate is 7.5% per year, compounded continuously?
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Question 377714: How long will it take for an investment of $1000 to double in value if the interest rate is 7.5% per year, compounded continuously?
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
,
,
,
t = ln2/0.075
t = 9.24 years.
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