SOLUTION: Suppose $6,000 is invested in an account at an annual interest rate of 4.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double

Question 1146859: Suppose $6,000 is invested in an account at an annual interest rate of 4.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double in size?
Answer by ikleyn(52856) (Show Source): You can put this solution on YOUR website!
.



12000 = 


 = 


2 = 


ln(2) = 0.045*t


t =  = 15.40 years.    ANSWER

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