Find the time it takes for $8,300 to double when invested at an annual interest rate of 11%, compounded continuously. 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
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Find the time it takes for $8,300 to double when invested at an annual interest rate of 11%, compounded
continuously.
years
Find the time it takes for $830,000 to double when invested at an annual interest rate of 11%, compounded
continuously.
years
Give your answers accurate to 4 decimal places.
Transcribed Image Text:Find the time it takes for $8,300 to double when invested at an annual interest rate of 11%, compounded continuously. years Find the time it takes for $830,000 to double when invested at an annual interest rate of 11%, compounded continuously. years Give your answers accurate to 4 decimal places.
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