Question

If $ 2500 is invested in an account that pays interest compounded continuously, how long will it take to grow to $ 5000 at 3%? Round to the nearest tenth.

Answer 1

how long will it take to double? ln(2)/r

Answer 2

A = P e^rt

A/P = e^rt

ln(A/P) = rt

ln(A/P)
----- = t
r

Answer 3

yes i want to round the answer to the nearest tenth

Answer 4

once you plug that into a calculator, just rnd it off them