SOLUTION: Find the doubling time of an investment earning 7% interest if interest is compounded continuously is ____years. Round to the nearest tenth of a year.

Algebra ->  Expressions-with-variables -> SOLUTION: Find the doubling time of an investment earning 7% interest if interest is compounded continuously is ____years. Round to the nearest tenth of a year.      Log On


   

Question 928787: Find the doubling time of an investment earning 7% interest if interest is compounded continuously is ____years.
Round to the nearest tenth of a year.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
A = P e ^(rt)
2 = e^(.07t)
ln(2)/.07 = t = 9.9yr