$5000 is deposited in an account earning 6% interest compounded continuously. Use the continuous interest formula below to determine how long it takes for the amount in the account to double. Round answer to 2 decimal places.\ $A = Pe^{rt}$ years.
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- Principal amount (P) = $5000 - Interest rate (r) = 6% = 0.06 - Time taken to double the amount (t) = unknown - Amount after doubling (A) = $10000 (double the principal amount) Show more…
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