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

Question

Mathematics

Guest

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)

Know the Answer?

Jaylynn Knox · Answer 1

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

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

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