Question

Find the time it takes for $9,200 to double when invested at an annual interest rate of 10%, compoun
continuously.
years
Find the time it takes for $920,000 to double when invested at an annual interest rate of 10%, compounded
continuously.
years

Answer 1

Answer:

years = natural log (total / principal) / rate

years = natural log (18,400 / 9,200) / 10

years = natural log (2) / 10

years = 0.69314718056 / 10

years = 6.9314718056

and this would be the time for ANY amount of money to double.

Step-by-step explanation: