If you deposit $600 in an account that pays 6.75% compounded continuously, how long will it take to double your investment? (t is time in years)

the formula is A=Pe^rt A= amont t=time in yrs. P=principal and r=annual interest

SHOW WORK PLEASE =)

Question

If you deposit $600 in an account that pays 6.75% compounded continuously, how long will it take to double your investment? (t is time in years)

the formula is A=Pe^rt A= amont t=time in yrs. P=principal and r=annual interest

SHOW WORK PLEASE =)

amistre64 · Answer

ln(2)
---- perhaps?
1+r

amistre64 · Answer

nah, its just r on the bottom methinks

amistre64 · Answer

\begin{array}{r||}
2P=P.e^{rt}\
\frac{2P}{P}=e^{rt}\
ln(2) = rt\
\frac{ln(2)}{r}=t
\end{array}

anonymous · Answer

amistre64, you're getting lazy

amistre64 · Answer

\begin{align}
\color{#ff0000}{a}\color{#0ff000}{s}\ \color{#000ff0}{c}\color{#0000ff}{a}\color{#5f00f0}{n}	ext{ see; it aint about the amount at all :)}
\end{align}

amistre64 · Answer

lol .... lazy? me?  it takes effort to write in this latex stuff lol

amistre64 · Answer

ln(scalar)
------- = how much time it takes
     r