SOLUTION: Determine the time necessary for $1000 to double if it is invested at interest rate r=10% compounded continously.

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Question 438962: Determine the time necessary for $1000 to double if it is invested at interest rate r=10% compounded continously.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi

Determine the time necessary for $1000 to double 

if it is invested at interest rate r=10% compounded continously.

  2000 = $1000e^(.10*t) Compounding continously

 ln (2000/1000) = .10t

   6.9315 yrs  = t