SOLUTION: The doubling time of an investment with continuous compound interest is 12.2 years. If the investment is worth ​$23,000 ​today, how much will it be worth 6 years from​ now?

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: The doubling time of an investment with continuous compound interest is 12.2 years. If the investment is worth ​$23,000 ​today, how much will it be worth 6 years from​ now?       Log On


   

Question 1159893: The doubling time of an investment with continuous compound interest is 12.2 years. If the investment is worth ​$23,000 ​today, how much will it be worth 6 years from​ now?
It will be worth ​$_
Im really confused on this problem.
Answer by ikleyn(52807) About Me  (Show Source):
You can put this solution on YOUR website!
.

6 years comprise  6%2F12.2 = 0.491803 part of the doubling period.


Therefore, in 6 years from now the account will be worth


    23000*2^0.491803 = 32342.63  dollars.     ANSWER

Solved.