SOLUTION: The formula A= P e^rt describes the accumulation value A, of a sum of money P, the principal, after t years at annual percentage rate r (in decimal form) compounded continuously.

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: The formula A= P e^rt describes the accumulation value A, of a sum of money P, the principal, after t years at annual percentage rate r (in decimal form) compounded continuously.       Log On


   

Question 1104544: The formula A= P e^rt describes the accumulation value A, of a sum of money P, the principal, after t years at annual percentage rate r (in decimal form) compounded continuously.
Amount invested= $6500
Annual interest rate= 11%
Accumulated amount= Double the amount invested
What is the Time (t) in years?
(Round answer to one decimal place)
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
Duplicate.
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PS It's A = P e^(rt)