00:01
So we want to find the time it takes for $7 ,500 to double and invest in annual interest rate of 18 % compound continuously.
00:09
So we're going to use this right here for our compound continuously.
00:12
So we're doubling $7 ,500.
00:16
That will come out to $15 ,000 equals the initial amount, which is $7 ,500, times e to the 0 .18 times t power.
00:30
So we divide by 7500, so that comes out to 2, e to the 0 .18t, and we can take the natural log of both sides.
00:42
That way that cancels out.
00:43
I have the natural log of 2 equals 0 .18, and then we finish it off by dividing by 0 .18 to get the amount of time it takes to double.
00:54
So natural log of 2, divide by 0 .18.
01:00
And that comes out to 3 .85.
01:05
Yeah, i would just do that...