Question

How long will it take for $2000 to double if it is invested at 13% interest compounded continuously?

Answer 1

Assuming compounded pa,

4000 = 2000(1.13)^t

Somebody verify this.

Answer 2

4000=2000(1.13)^t
(2000(1.13)^t)/2000=4000/2000
(1.13)^t=2
2yrs

Answer 3

is that right?

Answer 4

2 is wrong.
Its \[\log_{1.13} 2 \]

Answer 5

that is 5.67 years

Answer 6

i dont understand how you got log1.13^2

Answer 7

its not 1.13^2

its base its like \[\log_{1.13} 2\]

Answer 8

1.13 is the base