# math

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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 -

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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