document.write( "Question 194019: You invest money into an account where the interest is compounded continuously. If the accounts value doubles in 9 years, what is the interest rate? \n" ); document.write( "
Algebra.Com's Answer #145646 by RAY100(1637)![]() ![]() ![]() You can put this solution on YOUR website! continuous interest formula is A=Pe^rt, \n" ); document.write( ", \n" ); document.write( "A=Pe^rt \n" ); document.write( "A/P= 2 = e^(r*9) \n" ); document.write( "ln both sides \n" ); document.write( "ln2 = 9r,,,,,,,,,,,,,,,,,,,,,,,,ln e^rt = rt \n" ); document.write( "lnr/9 = .077 = r \n" ); document.write( ", \n" ); document.write( "check \n" ); document.write( "A=Pe^rt \n" ); document.write( "A/P = 2 = e^(.077 * 9) =2,,,,,ok \n" ); document.write( " |