Question 91869: How long will it take for your money to double if it were invested at 60% interest, compunded continuously? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! How long will it take for your money to double if it were invested at 60% interest, compunded continuously?
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A(t) = Pe^(rt)
If it doubles A(t) = 2P
2P = Pe^(rt)
2 = e^(0.60t)
Take the natural log to get:
ln2 = 0.60t
t = [ln2]/0.60
t = 1.155 years
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Cheers,
Stan H.
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