Question

You want to invest

$10,000 dollars. How long will it take to double your investment at an annual
interest rate of 10%, compounded continuously? (Round your answer to the
nearest year)
Using equation A=Pe^rt
^=exponent

Answer 1

using the equation > A = Pe^rt

20000 = 10000e^0.1t > 10% = 0.1
2 = e^0.1t
log 2 = log e^0.1t > log to the base e
log 2 = 0.1t * 1 log e to the base e =1
0.6931 = 0.1t
t = 6.931
= 7 years