SOLUTION: how long does it take for a deposit of $1200 to double at 10% compounded continuously?

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Question 365289: how long does it take for a deposit of $1200 to double at 10% compounded continuously?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
how long does it take for a deposit of $1200 to double at 10% compounded continuously?
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A(t) = P*e^(rt)
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2400 = 1200*e^(0.10*t)
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2 = e^(0.10t)
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Take the log of both sides.
0.10t = ln(2)
t = ln(2)/0.10
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t = 6.93 years
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Cheers,
Stan H.
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