Determine the interest rate in order to Dublin investment in nine years assuming interest is compounded continuously

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asked Apr 11, 2018 101k views

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Oscar Castellon · Answer 1 · 2018-04-17T20:26:33+0000

Set up the equation 2P=Pe^9r since you are doubling your money in nine years and it is continuous interest. Divide everything by P, so 2=e^9r, then take the ln of each side so ln2=9r. Now divide by 9 to get your interest.

Determine the interest rate in order to Dublin investment in nine years assuming interest is compounded continuously

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