Question

14 Many wants to invest $4000 at 8.5% compounded continuously. How long will it take the money to double?

Name: 14 Many wants to invest 4000 at 8.5% compounded continuously. How long will it take the money to double?
Uploaded: 2021-05-14T18:55:18-08:00
Duration: 59 s
Channel: Kaylee Mcclellan
Description: 14 Many wants to invest 4000 at 8.5% compounded continuously. How long will it take the money to double?

          14 Many wants to invest $4000 at 8.5% compounded continuously. How long will it take the money to double?

Added by Shane R.

Precalculus with Limits

Ron Larson 2nd Edition

Instant Answer

Solved by Expert Kaylee Mcclellan

05/14/2021

Step 1

Step 1: The formula for continuously compounded interest is given by the equation A = P * e^(rt), where A is the amount of money accumulated after n years, including interest, P is the principal amount, r is the annual interest rate (in decimal), t is the time the Show more…

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14 Many wants to invest $4000 at 8.5% compounded continuously. How long will it take the money to double? 14 Many wants to invest $4000 at 8.5% compounded continuously. How long will it take the money to double?