SOLUTION: Suppose you deposit money in an ivestment account that pays 9% annual interest compounded continuously. About how many years will it take for your initial deposit to double?

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Question 451521: Suppose you deposit money in an ivestment account that pays 9% annual interest compounded continuously. About how many years will it take for your initial deposit to double?
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
2P+=+Pe%5E%280.09t%29
==> 2+=+e%5E%280.09t%29
==> ln2 = 0.09t
==> t = ln2/0.09 = 7.7 years, to the nearest tenth of a year.