SOLUTION: Suppose $9,200 is invested in an account at an annual interest rate of 2.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double
Algebra ->
Average
-> SOLUTION: Suppose $9,200 is invested in an account at an annual interest rate of 2.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double
Log On
Question 1116581: Suppose $9,200 is invested in an account at an annual interest rate of 2.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double in size? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Suppose $9,200 is invested in an account at an annual interest rate of 2.5% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double in size?
----------
A(t) = P(e^(rt))
------------------------
2*9200 = 9200*e^(0.025t)
----
e^0.025t = 2
------
0.025t = ln(2)
---
t = ln(2)/0.025
t = 27.7 years
-----------
Cheers,
Stan H.
-----------
(