Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Join our Q&A platform to connect with experts dedicated to providing precise answers to your questions in different areas. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.
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.
#SPJ1
Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.
