SOLUTION: An investor plans to invest $15,000 at 7.25% compounded continuously. How long will it take to double the investment using A=Pe^rt

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: An investor plans to invest $15,000 at 7.25% compounded continuously. How long will it take to double the investment using A=Pe^rt      Log On


   

Question 755637: An investor plans to invest $15,000 at 7.25% compounded continuously. How long will it take to double the investment using A=Pe^rt
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
An investor plans to invest $15,000 at 7.25% compounded continuously. How long will it take to double the investment using A=Pe^rt
-------
Solve:
2*15000 = 15000*e^(rt)
----
e^(0.0725t) = 2
---
0.0725t = ln(2)
t = 9.56 years
================
Cheers,
Stan H.
================