Question 1025186: Please help me the answer I came up with for these problems are 6.9315year. What am I doing wrong.
Find the time it takes for $5,000 to double when invested at an annual interest rate of 1%, compounded continuously.
years
Find the time it takes for $500,000 to double when invested at an annual interest rate of 1%, compounded continuously.
years
Give your answers accurate to 4 decimal places
Answer by Alan3354(69443)   (Show Source):
You can put this solution on YOUR website! Find the time it takes for $5,000 to double when invested at an annual interest rate of 1%, compounded continuously.
years
Find the time it takes for $500,000 to double when invested at an annual interest rate of 1%, compounded continuously.
years
Give your answers accurate to 4 decimal places
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What did you do?
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