Answer:
time required is 7.70 years
Explanation:
given data
interest rate = 9%
solution
we know with the compounded continuously rate r and time t amount is
A(t) = A(o) [tex]e^{rt}[/tex] .................1
and we have given amount is double so
A(t) = 2 A(o)
so from equation 1 put the value and we get here
2 A(o) = A(o) [tex]e^{rt}[/tex]
ln(2) = 0.09 t
solve it we get time
time t = 7.70 years
so time required is 7.70 years
