Question 145157
see this --> http://www.moneychimp.com/articles/finworks/continuous_compounding.htm

Given {{{A= Pe^(rt) }}}

Maya has deposited $600 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double? 

{{{1200 = 600e^(0.0564t)}}}
{{{2 = e^(0.0564t)}}}
{{{ln2 = 0.0564t }}}
{{{ln2/ (0.0564) = t }}}
{{{12.29 = t }}}


Suppose that $2000 is invested at a rate of 6% per year compounded continuously. What is the balance after 1 yr? After 2 yrs?

{{{A = 6000e^(0.06t) }}}
{{{A= 6000e^(0.06)}}}
{{{A = 6371}}} after 1 year


{{{A = 6000e^(0.06t) }}}
{{{A= 6000e^(0.06 * 2)}}}
{{{A = 6765}}} after 2 years