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Find the time it takes for $8,700 to double when invested at an annual interest rate of 3%, compounded continuously.

Find the time it takes for $8,700 to double when invested at an annual interest rate of 3%, compounded continuously.
asked 225k views
1 vote
Find the time it takes for $8,700 to double when invested at an annual interest rate of 3%, compounded continuously.

asked
User Keyboard Ninja
by
8.4k points

1 Answer

3 votes

Answer:

261 years

Explanation:

8700 x 0.03 =261

answered
User Bonhoffer
by
8.1k points
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