Question

A bank account is growing with continuous compounding at a fixed annual interest rate. The balance of the bank account doubles in 6 years.

Answer 1

Below

Explanation:

Continuous compounding

e^(i t) where i = annual decimal interest t = years

2 = double

2 = e^(i* 6) <===== LN both sides

.693147 = i * 6

i =.1155 or 11.55 %