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suppose $5,000 is invested in an account at an annual interest rate of 2.7% compounded continuously. how long (to the nearest tenth of a year) will it take the investment to double in size?

User Tadas
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The basic equation for continuous compounding is as follows:

A=Pe^(rt)
Plugging in the given values gives:

10000=5000e^(0.027t)
Dividing both sides by 5000, we get:

2=e^(0.027t)
Take natural logs of each side:

ln\ 2=0.027t
from which we find that t = 25.67 years.
User TheChessDoctor
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