SOLUTION: The amount of money in an account with continuously compounded interest is given by the formula , where P is the principal, r is the annual interest rate, and t is the time in year
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Question 252337: The amount of money in an account with continuously compounded interest is given by the formula , where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the nearest hundredth of a year how long it takes for an amount of money to double if interest is compounded continuously at 6.2%. Round to the nearest tenth. Answer by richwmiller(17219) (Show Source):
