Question

If you had $10,000 and were investing it at 6% interest compounded continuously, how long would it take you to double your money, to the nearest tenth of a year?

Answer 1

A = Pe^(rt)
20000 = 10000(e^.06x)

x = 11.5

11.5 years.

Answer 2

SWEET! Thank you very much..

Answer 3

No Problem.

Answer 4

did you get the steps?

Answer 5

first of all doubling means doubling. it does not matter how much you start with, that is a red herring. just put
\[2=e^{.06t}\]
and solve for t

Answer 6

ok?

Answer 7

then take the log to get
\[\ln(2)=.06t\] and so
\[t=\frac{\ln(2)}{.06}\]

Answer 8

ahhhh... yeah, ok.. cool!

Answer 9

then use a calculator