document.write( "Question 1137562: At what rate do you need to invest money into a bank account earning continuously compounded interest if you want to double your money in 30 months? \n" ); document.write( "

Algebra.Com's Answer #755440 by ikleyn(52777) $\"\"$ $\"About$

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document.write( "30 months = 2.5 years.\r\n" );
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document.write( " = 2*P,   where P is the principal.\r\n" );
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document.write( "2.5*r = ln(2)\r\n" );
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document.write( "r =  = 0.2773 = 27.73%\r\n" );
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document.write( "ANSWER.  0.2773,  or  27.73% annual interest rate compounded continuously.\r\n" );
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