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?


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


{{{4000 = 2000(e)^(.08t)}}}


{{{4000/2000 = e^(.08t)}}}


{{{2 = e^(.08t)}}}


{{{ln 2 = .08t}}}


{{{(ln 2)/.08 = t}}}


{{{8.664339757 = t}}}, or {{{highlight_green(t = 8.66)}}} years


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