SOLUTION: How long would it take to double your principal in an account that pays 6.5% annual intrest compounded continuously?
Algebra.Com
Question 857872: How long would it take to double your principal in an account that pays 6.5% annual intrest compounded continuously?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
How long would it take to double your principal in an account that pays 6.5% annual intrest compounded continuously?
---------------
0.065t = ln(2)
t = ln(2)/0.065
t =~ 10.6638 years
RELATED QUESTIONS
How long would it take to double your principal at an annual interest rate of 8%... (answered by solver91311)
How long would it take to double your principal at an annual interest rate of 7%... (answered by Alan3354)
You deposit $500 in an account that pays 2.5% annual
interest compounded continuously.... (answered by ewatrrr)
Suppose you deposit money in an ivestment account that pays 9% annual interest compounded (answered by robertb)
suppose you deposit money in an investment account that pays 7% annual interest... (answered by scott8148)
suppose you deposit money in an investment account that pays 7% annual interest... (answered by scott8148)
How long will it take $3000 to double if it is invested in an account that pays 3%... (answered by Alan3354)
6. If you invest your money in an account that pays 1.5% interest compounded... (answered by robertb)
At an annual rate of 8% compounded continuously, in how many years would it take for a... (answered by ewatrrr)