posted by .

1) initial investment = \$600
annual % rate = ?
time to double = ?
amount after 10 years = \$19,205.00

19,205 = 600e^(10r)

I do not know how to solve for r of find the time to double.

That looks like a misprint, but if the investment really increased that fast,

19,205 = 600 (1 + r)^10
10 ln (1+r) = ln (19,205/600) = ln 32.0
= 3.4657
ln (1+r) = 0.34657
1+r = 1.414
r = 41.4%

The time to double is 2.0 years

## Similar Questions

1. ### compound interest

How do I solve these problems? Complete the table for a savings account in which interest is compounded continuously. 1. Initial Investment: \$1000 Annual % Rate: 3.5% Time to Double: ?
2. ### math

Complete the table for a savings account in which interest is compounded continuously. initial investment = \$600 annual % rate = ?

1) initial investment = \$600 annual % rate = ?
4. ### math

1) initial investment = \$600 annual % rate = ?
5. ### math

What is the time to double when the initial investment is \$1000 and the annual rate is 3.5%
6. ### math

Initial Investment?? Annual % Rate= 8 Time to Double?
7. ### Retirement

1. I would like to retire in 42 years at the age of 65. The average retirement age for women is between 60-62 years of age, and 62-64 for men. 2. My annual amount of money I'll need after retiring would be approxiamately \$26,500 (2,205*12=\$26,460) …
8. ### Pre-calculus

Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Investment: Annual % Rate: Time to Double: 8 yr Amount After 10 Years: \$1700 I don't understand how to get in the initial …
9. ### PRE-CAL

Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Investment== ?
10. ### math

An investment of 25,000 earns interest at an annual rate of 8.4% compounded continuosly a. find the instantaneous rate of change of the amount in the account after years b. find the instantaneous rate of change of the amount in the …

More Similar Questions