SOLUTION: trevor is going to invest his inheritance into an account where interest is compounded continuously. What rate would he need to find if his goal is to double his money in exactly 1

SOLUTION: trevor is going to invest his inheritance into an account where interest is compounded continuously. What rate would he need to find if his goal is to double his money in exactly 1

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Question 878940: trevor is going to invest his inheritance into an account where interest is compounded continuously. What rate would he need to find if his goal is to double his money in exactly 10 years? Express the rate as a percentage
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
A = P e ^(rt),
ln(2) = 10r
ln(2)/10 = r = .0693 0r 6.93% interest
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