math

posted by .

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

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    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?
  2. Math

    How long will it take for an investment to double in value if it earns 9.5% compounded continuously?
  3. Calculus

    An investment grows ar a rate of 2.5% each year compounded continuously. Approximately how long will it take the investment to double?
  4. math

    How long it will take for an investment of 1000 dollars to double in value if the interest rate is 9.5 percent per year, compounded continuously?
  5. Math

    How long it will take for an investment of 2000 dollars to double in value if the interest rate is 9.5 percent per year, compounded continuously?
  6. precalc

    A $5000 investment earns 7.2% annual interest, and an $8000 investment earns 5.4%, both compounded annually. How long will it take for the smaller investment to catch up to the larger one?
  7. How long will it take the investment to double?

    $3,600 is invested in an account at an annual interest rate of 4.8% compounded continuously. How long, to the nearest tenth of a year, will it take the investment to double in size?
  8. math

    1. You want to invest $10,000 dollars. How long will it take to double your investment at an annual interest rate of 10%, compounded continuously?
  9. Pre-Calc

    An initial investment of $9000 grows at an annual interest rate of 5% compounded continuously. How long will it take to double the investment?
  10. Math

    how long does it take an investment of $8000 to double if it is invested at 7% interest compounded continuously. round to nearest year.

More Similar Questions