Ask Question
10 March, 14:14

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

+3
Answers (1)
  1. 10 March, 16:40
    0
    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
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You want to invest $10,000 dollars. How long will it take to double your investment at an annual interest rate of 10%, compounded ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers