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Posted by on Thursday, July 19, 2012 at 4:27pm.

How long will it take for an investment of $13,000 to double if the investment earns interest at the rate of 6%/year compounded continuously?

  • math - , Thursday, July 19, 2012 at 6:27pm

    13000 e^.06t = 26000
    e^.06t = 2
    take ln of both sides

    ln e^.06t = ln 2
    .06t ln e = ln2 , but lne = 1

    t = ln2/.06
    = appr 11.55

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