SOLUTION: Find the time it takes for $7,000 to double when invested at an annual interest rate of 19%, compounded continuously.
Find the time it takes for $700,000 to double when invest
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Question 975950: Find the time it takes for $7,000 to double when invested at an annual interest rate of 19%, compounded continuously.
Find the time it takes for $700,000 to double when invested at an annual interest rate of 19%, compounded continuously.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
The future value, 
, of an investment valued at 
initially where the interest rate is 
expressed as a decimal and compounded continuously for 
years is given by:
If the investment has doubled, then 
.
So, solve
for
John
My calculator said it, I believe it, that settles it
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