Question

A quantity grows at a continuous rate of 15% per year . Find it’s doubling time

Answer 1

The doubling time of a quantity growing at a continuous rate of 15% per year is approximately 4.622 years.

Step-by-step explanation:

To find the doubling time of a quantity growing at a continuous rate of 15% per year, we can use the formula:

Doubling time = ln(2) / (growth rate)

Plugging in the given growth rate of 15%, the doubling time would be:

Doubling time = ln(2) / (0.15) ≈ 4.622 years

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