Question 482242: How long will it take for $2000 to double if it is invested at 6.25% interest compounded continuously? Found 2 solutions by stanbon, Alan3354:Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! How long will it take for $2000 to double if it is invested at 6.25% interest compounded continuously?
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A(t) = Ao*e^(rt)
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4000 = 2000*e^(0.0625t)
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e^(0.0625t) = 2
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Take the natural log:
0.0625t = ln(2)
t = 11.09 years
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Cheers,
Stan H.
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