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29 November, 10:18

Determine the time necessary for P dollars to double when it is invested at interest rate r compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.)

P=363635.63

r=5%

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  1. 29 November, 10:41
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    Annually 2 = (1+.05) ^t Solve for t = Log (2) / Log (1+.05)

    Monthly, daily 2 = (1+.05/n) ^nt t=Log (2) / Log (1+.05/n) / n

    where n is 12 months or 365 days.

    Continuously A=P*e^rt t=Ln (2) / r
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