Determine the time necessary for P dollars to double when it is invested at interest rate r compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.) r = 8%

Answer 1

2 = (1+ 0.08)^t

2 = (1 + 0.08/12)^12t

2 = (1 + 0.08/365)^365t

2 = e^0.08t