Question 379322: How long does it take money to quadruple if it is invested at 10% compounded continously? Found 2 solutions by robertb, mananth:Answer by robertb(5830) (Show Source):
You can put this solution on YOUR website! How long does it take money to quadruple if it is invested at 10% compounded continously?
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assume the principal p = 100
Amount at end of term = 400
rate = 10%
number of years = n
compound period = continuous
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n = log(A/P)/(q log[1+(i/q)])
n= log(400/100)/(365*log(1+0.1/365))
n=log 4/(365*log (1+0.1/365))
n= 13.68 years to quadruple
