SOLUTION: If 12,000 is invested at an interest rate of 18 % per year compounded continuously, how long will it take for the money to double?
Help, they threw me a curve ball with this one
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Help, they threw me a curve ball with this one
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Question 220944: If 12,000 is invested at an interest rate of 18 % per year compounded continuously, how long will it take for the money to double?
Help, they threw me a curve ball with this one. Answer by rfer(16322) (Show Source):
You can put this solution on YOUR website! that is a tough one.
I played around a little and came up with 3.855 yrs
A=12000(2.7183)^.18*3.855
A=12000(2.00151549)
A=24018.19
not exact science, but close.
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