The doubling time of an investment with continuous compound interest is 12.5 years. If the investment is worth ?$24,000 today, how much will it be worth 6 years from? now?
Added by Luz L.
Step 1
5 years. We can use the formula for continuous compound interest: A = Pe^(rt) where A is the final amount, P is the initial amount, e is the base of the natural logarithm, and t is the time in years. If we set A = 2P (since the investment doubles), we get: 2P = Show more…
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