The compound amount, A, accrued with continuous compounding is given by A= P.100.4343rt, where P is the principal, r is the rate, and is the time in years. If the rate is 11.5%, find how long it takes for the money to double, that is for A = 2P. (log2=0.30103)
The compound amount, A, accrued with continuous compounding is given by A= P.100.4343rt, where P is the principal, r is the rate, and is the time in years. If the rate is 11.5%, find how long it takes for the money to double, that is for A = 2P. (log2=0.30103)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Transcribed Image Text:18. The compound amount, A, accrued with continuous compounding
is given by A= P.100.4343r, where P is the principal, r is the rate,
and is the time in years. If the rate is 11.5%, find how long it takes
for the money to double, that is for A = 2P. (log2=0.30103)
18.
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