Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Suppose that $1,000 is invested at 6% interest compounded continuously. Use the formula
A = Pert.
(a) How long (to the nearest day) before the value is $1,250?
(answer should be in years, days)
(b) How long (to the nearest day) before the money doubles?
(answer should be in years, days)
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