Find the time it takes for $5,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years Find the time it takes for $285,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years
Find the time it takes for $5,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years Find the time it takes for $285,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 7SC
Related questions
Question
6.8 18
![Find the time it takes for $5,600 to double when invested at an annual interest rate of 8.6%, compounded
continuously. Give your answer to 2 decimal places.
years
Find the time it takes for $285,600 to double when invested at an annual interest rate of 8.6%, compounded
continuously. Give your answer to 2 decimal places.
years](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F14091e10-ee9c-4802-b3a9-c5244b7b11bc%2F25e007cf-b71d-4bbd-8e04-8ca51b32fbd6%2Fqm0h1w_processed.png&w=3840&q=75)
Transcribed Image Text:Find the time it takes for $5,600 to double when invested at an annual interest rate of 8.6%, compounded
continuously. Give your answer to 2 decimal places.
years
Find the time it takes for $285,600 to double when invested at an annual interest rate of 8.6%, compounded
continuously. Give your answer to 2 decimal places.
years
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 4 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![College Algebra (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305652231/9781305652231_smallCoverImage.gif)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![Intermediate Algebra](https://www.bartleby.com/isbn_cover_images/9780998625720/9780998625720_smallCoverImage.gif)
![College Algebra (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305652231/9781305652231_smallCoverImage.gif)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![Intermediate Algebra](https://www.bartleby.com/isbn_cover_images/9780998625720/9780998625720_smallCoverImage.gif)
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)
![Calculus For The Life Sciences](https://www.bartleby.com/isbn_cover_images/9780321964038/9780321964038_smallCoverImage.gif)
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage