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Determine the interest rate in order to Double investment in nine years assuming interest is compounded continuously

User Firman
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Continuous interest is Pe^(rt), but you are doubling your money in nine years so you want 2P=Pe^9t. Now divide both sides by P so 2=e^9t. Now take the ln of each side so ln2=9t. then just divide by 9. You will get a decimal, so move the decimal two places to the right to get your interest rate. 
User Nguyen Lam Phuc
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