Find the time it takes for $5,000 to double when invested at an annual interest rate of 4%, compounded continuously. years Find the time it takes for $500,000 to double when invested at an annual interest rate of 4%, compounded continuously. years
Added by Grant W.
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Step 1
We know the initial amount is $P_0 = 5000$ and the final amount is $P = 10000$ for the first case, and $P_0 = 500000$ and $P = 1000000$ for the second case. Show more…
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