Answered

Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

You want to invest
$10,000 dollars. How long will it take to double your investment at an annual
interest rate of 10%, compounded continuously? (Round your answer to the
nearest year)
Using equation A=Pe^rt
^=exponent

Sagot :

using the equation         >    A  =  Pe^rt

20000  =    10000e^0.1t    >       10%  =  0.1
 2  = e^0.1t
log 2  =    log e^0.1t               >     log to the base e
log 2  =  0.1t * 1              log e to the base e  =1
0.6931 = 0.1t
t =   6.931
   =    7 years
We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.