Question

Thor invests $3000 in an account, with interest compounded continuously. If his investment doubles in value after 7.2 years, what interest rate is he earning? [Use the formla A = Pert and round answer to the nearest tenth.]

Answer 1

\[e^{r\times 7.2}=2\]
\[7.2r=\ln(2)\]
\[r=\frac{\ln(2)}{7.2}\] then a calculator