SOLUTION: An investor with interest compounded continuously doubled in 15yr. What is the interest rate?

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Question 140737: An investor with interest compounded continuously doubled in 15yr. What is the interest rate?
Answer by edjones(8007) About Me  (Show Source):
You can put this solution on YOUR website!
A=balance in account with principal P annual interest rate r and time in years t.
Let P=1
A=Pe^(rt)
2=e^15r
ln(2)=15r Take ln of both sides. Since the ln(e^15r)=15r
r=ln(2)/15
4.621...%
.
Ed