Question 1119019
Complete the table assuming continuously compounded interest. 
(Round your answers to two decimal places.) 
Initial Investment: $958.54
Annual Rate (%): UNKNOWN
Time to Double: 11 yr
Amount After 10 Years: $1800 
:
The continuous interest formula: {{{A = P*e^(rt)}}},
find the rate for any amt to double in 11 yrs
{{{e^(11r) = 2}}}
{{{11r = ln(2)}}}
r = {{{.693/11}}}
r = .063 or 6.3% interest
:
Amt after 10 yrs = 1800 at 6.3%, find P
{{{p*e^(.063*10) = 1800}}}
{{{p*e^.63 = 1800}}}
Using a calc find e^.63
1.8776p = 1800
p = {{{1800/1.8776}}}
p = $958.67, close to the original amt