document.write( "Question 194020: You invest $1,000 at an annual rate of 6.75% compounded continuously.How long will it take for the value of the investment to double? \n" ); document.write( "
Algebra.Com's Answer #145644 by RAY100(1637)![]() ![]() ![]() You can put this solution on YOUR website! formula for continuously compounding is ,,,A = Pe^rt \n" ); document.write( ", \n" ); document.write( "2000 = 1000 e^(.0675*t) \n" ); document.write( "ln of both sides \n" ); document.write( "ln2=.0675 *t,,,,,,,,,,,,,,,,,,,,,,,, lne^.0675t=.0675t \n" ); document.write( "ln2 / .0675 = t \n" ); document.write( "10.26 = t ,,,,,,,in yrs \n" ); document.write( ", \n" ); document.write( "check \n" ); document.write( "2000 =1000 e^(.0675*10.26)=1000 * 2 = 2000,,,,,,ok \n" ); document.write( " |