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Sagot :
Based on the interest rate and continuous compounding, the investment would double in value after 18.5 years.
We have given that,
investment to double at a 3 3/4% interest rate,
When will the investment double in value?
The future value using continuous compounding is:
= Amount x e ^ (rate x time)
Interest is
= 3.75%
What is the formula of an exponential function?
2 = e ^ (0.0375 x time)
In2 = 0.0375 x time
t = In2 / 0.0375
t= 18.5 years
To learn more about the compounded continuously visit:
brainly.com/question/16731646.
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