Question 755637
An investor plans to invest $15,000 at 7.25% compounded continuously. How long will it take to double the investment using A=Pe^rt
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Solve:
2*15000 = 15000*e^(rt)
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e^(0.0725t) = 2
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0.0725t = ln(2)
t = 9.56 years
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Cheers,
Stan H.
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