suppose that 12,299.00 is invested at an interest rate of 5.5% per year compounded continuously

Question

How much is in the account after:

a) 1 year? $

 (Remember, this is money so go 2 decimal places.) 

b) 2 years? $

c) 5 years? $

d) 10 years? $

e) What is the doubling time?  years  (Round to one decimal place.)

Answer 1

A(t) = 12299e^0.055t

Now substitute 1, 2, 5, and 10 for t and calculate

2 = e^0.055t

ln 2 = 0.055t

Can you solve for t and answer?