SOLUTION: Find the time it takes for $5,400 to double when invested at an annual interest rate of 6%, compounded continuously.

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Question 1178184: Find the time it takes for $5,400 to double when invested at an annual interest rate of 6%, compounded continuously.
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!

Use the formula t = ln(A/P) / r
Principal = 5400
Amount =10800
rate =0.06
t = ln(10,800.00/5,400.00) / 0.06
t = 11.552 years
11 years 7 months