Question

The amount of money in an account with continuously compounded interest is given by the formula A

Answer 1

Given the question as contained in the image on the question tab;

`A=Pe^(rt)`
`\begin{gathered} A=2P \\ r=7.5\text{ \%} \\ t=? \\ \end{gathered}`
`\begin{gathered} 2P=Pe^(0.075t) \\ Divide\text{ both sides by P;} \\ 2=e^(0.075t) \\ ln2=ln(e^(0.075t)) \\ ln2=0.075t \\ t=(ln2)/(0.075) \\ t=9.2\text{ years} \end{gathered}`

Final answer:

9.2 years.