
Mark M. answered 10/08/20
Mathematics Teacher - NCLB Highly Qualified
2 = e0.09t
ln 2 = 0.09t
0.69314718 ≈ 0.09t
7.70 ≈ t
Note: The doubling time is the same for all starting amount.
Gaukhar M.
asked 10/08/20a)Find the time it takes for $8,500 to double when invested at an annual interest rate of 9%, compounded continuously.
b)Find the time it takes for $850,000 to double when invested at an annual interest rate of 9%, compounded continuously.
Mark M. answered 10/08/20
Mathematics Teacher - NCLB Highly Qualified
2 = e0.09t
ln 2 = 0.09t
0.69314718 ≈ 0.09t
7.70 ≈ t
Note: The doubling time is the same for all starting amount.
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Gaukhar M.
appreciate you!10/09/20