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How long will it take for an investment of $1000 to double in value if the interest rate is 8.5% per year, compounded continuously

How long will it take for an investment of $1000 to double in value if the interest rate is 8.5% per year, compounded continuously
asked 8.0k views
16 votes
How long will it take for an investment of $1000 to double in value if the interest rate is 8.5% per year, compounded continuously

asked
User Dahie
by
8.7k points

1 Answer

5 votes

answer:

t = 9.24 years.

Explanation:

t = ln2/0.075

t = 9.24 years.

answered
User Jendrusk
by
8.5k points
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