SOLUTION: i have to find the number of years it will take to double my money. initial amount being 100,000 interest rate 2.88% and its being compunded continuosly

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: i have to find the number of years it will take to double my money. initial amount being 100,000 interest rate 2.88% and its being compunded continuosly      Log On


   

Question 293553: i have to find the number of years it will take to double my money. initial amount being 100,000 interest rate 2.88% and its being compunded continuosly
Answer by scott8148(6628) About Me  (Show Source):
You can put this solution on YOUR website!
A = P e^(rt)

2 = e^(.0288t)

taking natural log ___ ln(2) = .0288t

[ln(2)] / .0288 = t