Post a New Question


posted by .

marcia has $220,000 saved for her retirement. How long will it take for the investment to double in value if it earns 6% interest compounded continuously?

  • math -

    for the exact answer (11.56 yrs), or use the "rule of 72*" and get about 12 years.

    *The product of the annual interest rate and the number of years must be 72 to double your money.

  • math -

    i didn't get the right answer :[

    the answer must be 139 months

  • math -

    In your case,

    ln2 = 0.06t
    t= ln2/0.06
    = 11.5524 years x 12 months
    =139 months

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

More Related Questions

Post a New Question