Question

Suppose you have $2000 to invest. At what annual interest rate r (expressed in %)
compounded continuously you have to invest in order to double your investment
in 8 years ?

Answer 1

2 = (1+r)^8
r = 2^(1/8) - 1 = 0.0905077
9.05%

Answer 2

thank you:)

Answer 3

i just have on question. why did you use 2

Answer 4

because it's double

Answer 5

well i dont get to the same answer sorry. i think its because i have a diff formula thats why im confused. the formula im given is:A(t)=p*e^rt where e=2.72