SOLUTION: Maya has deposited $600 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double?

SOLUTION: Maya has deposited $600 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double?

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Question 48987: Maya has deposited $600 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double?
Answer by Nate(3500) (Show Source): You can put this solution on YOUR website!
P(a) = a(1 + r)^t
1200 = 600(1.0564)^t
log(2) = t*log(1.0564)
log(2)/log(1.0564) = t
About 12 years and 7 months and 17 days and 23 hours and 15 minutes and 50 seconds
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