math

how long will it take for $7600 to double if invested at 4.2%,componded continously

Answers

To solve this problem, you need to use the equation A = Pert, with A being the amount of money after the investment period, P being the initial principal (7600), r being the interest rate (4.2%), and t being the amount of time. A = 7600e^(0.042x) 2A = 7600e^(0.042x) * 2 2A = 15,200e^(0.042x) 15,200e^(0.042x) = 7600 0.042xln(15200/7600) = x x = (ln(15200/7600))/(0.042) x = 16.15 years It will take 16.15 years for $7600 to double if invested at a 4.2% interest rate compounded continuously.

Answered by mark83

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