document.write( "Question 125772: How long will it take to double my money at 8% interest rate and continuous compounding? \n" ); document.write( "
Algebra.Com's Answer #92161 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! How long will it take to double my money at 8% interest rate and continuous compounding? \n" ); document.write( "----------- \n" ); document.write( "A(t)=Pe^(rt) \n" ); document.write( "Assume you have one dollar: P=1 \n" ); document.write( "When will you have two dollars? \n" ); document.write( "------------------------ \n" ); document.write( "2 = 1*e^(0.08t) \n" ); document.write( "Take the natural log of both sides? \n" ); document.write( "ln2 = 0.08t \n" ); document.write( "t = 8.66 years \n" ); document.write( "==================== \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( " |