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

label Algebra
account_circle Unassigned
schedule 1 Day
account_balance_wallet \$5

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

Oct 21st, 2017

Thank you for the opportunity to help you with your question!

doubled means becomin 4000

A = Pe^rt

4000/2000 = e^rt

e^rt  = 2

apply ln on both side

ln e^rt = ln 2

rt = ln 2

t  =  ln 2 / .085

= 8.15  years.................................................ANSWER

8. 15 years

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 17th, 2015

...
Oct 21st, 2017
...
Oct 21st, 2017
Oct 22nd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer