SOLUTION: How long will it take for $2000 to double if it is invested at 6.25% interest compounded continuously?

Question 482242: How long will it take for $2000 to double if it is invested at 6.25% interest compounded continuously?
Found 2 solutions by stanbon, Alan3354:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How long will it take for $2000 to double if it is invested at 6.25% interest compounded continuously?
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A(t) = Ao*e^(rt)
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4000 = 2000*e^(0.0625t)
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e^(0.0625t) = 2
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Take the natural log:
0.0625t = ln(2)
t = 11.09 years
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Cheers,
Stan H.
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Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
As the other tutor said, it's ~ 11 years.
Notice that the amount doesn't matter, any amount will double.
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