SOLUTION: How long will it take for $2,000 to double at 6% interest, compounded continuously? Round your answer to the nearest hundredth of a year.

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Question 1160546: How long will it take for $2,000 to double at 6% interest, compounded continuously? Round your answer to the nearest hundredth of a year.
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!




You want the future value to be twice the present value, so:









Plug in 6% as a decimal and do the arithmetic.


John

My calculator said it, I believe it, that settles it