How long will it take for an investment of $2000 to double in value if the inter

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Mathematics

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How long will it take for an investment of $2000 to double in value if the interest rate is 8.5% per year, compounded continuously? (Round your answer to two decimal places.)

 yr

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Explanation & Answer

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2 = (1.085)^t

t = log2/log 1.085 =8.50  years   (answer)

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