The doubling time of an investment with continuous compound interest is 12.6 years. If the investment is worth $25,000 today, how much will it be worth 7 years from now? It will be worth $ (Round to nearest cent)
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The formula for doubling time (T) with continuous compound interest is given by: T = ln(2) / r where ln is the natural logarithm. Given that the doubling time (T) is 12.6 years, we can rearrange the formula to solve for r: r = ln(2) / T Substituting T = 12.6 Show more…
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