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how long does it take for an investment to double in value if it is invested at 8% per annum compounded monthly? compounded continuously?
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how long does it take for an investment to double in value if it is invested at 8% per annum compounded monthly? compounded continuously?

User Pavan T
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1 Answer

4 votes
2p=p(1+0.08/12)^12n
2=(1+0.08/12)^12n
Log(2)=12n*log(1+0.08/12)
12n=log(2)/log(1+0.08/12)
n=104.32/12
N=8.7 years
Continuously
2p=pe^rt
Now your turn solve with math to get the answer using the equation...if you have problem with that just tell me
User Boris Prohaska
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