SOLUTION: How long it will take for an investment of 2000 dollars to double in value if the interest rate is 8 percent per year, compounded continuously?

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Question 634313: How long it will take for an investment of 2000 dollars to double in value if the interest rate is 8 percent per year, compounded continuously?
Found 2 solutions by graphmatics, MathTherapy:
Answer by graphmatics(170) About Me  (Show Source):
You can put this solution on YOUR website!
2000+.08n2000=4000
.08n2000=2000
n=1/.08
n=12.5

Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!

How long it will take for an investment of 2000 dollars to double in value if the interest rate is 8 percent per year, compounded continuously?

A+=+Pe%5E%28rt%29

4000+=+2000%28e%29%5E%28.08t%29

4000%2F2000+=+e%5E%28.08t%29

2+=+e%5E%28.08t%29

ln+2+=+.08t

%28ln+2%29%2F.08+=+t

8.664339757+=+t, or highlight_green%28t+=+8.66%29 years

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