Ask Question
22 September, 09:18

Determine the interest rate in order to Double investment in nine years assuming interest is compounded continuously

+5
Answers (1)
  1. 22 September, 09:43
    0
    Continuous interest is Pe^ (rt), but you are doubling your money in nine years so you want 2P=Pe^9t. Now divide both sides by P so 2=e^9t. Now take the ln of each side so ln2=9t. then just divide by 9. You will get a decimal, so move the decimal two places to the right to get your interest rate.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Determine the interest rate in order to Double investment in nine years assuming interest is compounded continuously ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers