00:01
Okay, so i have a question about how long it would take to double my money if it's invested at a 2 % interest rate compounded continuously.
00:23
Okay, the formula for continuous compound interest is a equals, i always say pert, principle times e to the rate times time power.
00:38
Okay, so let's think about this.
00:40
Whatever my principle is, it really doesn't matter.
00:43
It could be $10, $20 because i just want to double it.
00:47
So i'm going to let p be whatever my principle is, and i'm going to set my equation equal to 2p.
00:56
E is part of the equation.
00:58
The interest rate is 0 .02, and i'm solving for time...