SOLUTION: How quickly will money double if it is invested at an annual interest rate of 6% compounded continuously?
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Question 635520: How quickly will money double if it is invested at an annual interest rate of 6% compounded continuously?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Continuous compounding:
The investment is doubled when
So:
Solve for 
\ =\ \ln(2))
\ =\ \ln(2))
)
}{0.06})
Or, in general, an investment will multiply 
times if continuously compounded at an interest rate of 
in:
\ }{\frac{r}{100}})
years
John
My calculator said it, I believe it, that settles it
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