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Find the time it takes for 9,400 to double when invested at an annual interest rate of 18%, compounded continuously. Find the time it takes for $940,000 to double when invested at an annual interest rate of 18%, compounded continuously.

Respuesta :

[tex]PV\text{ }\lim _{n\to\infty}(1+\frac{r}{n})^{nt}=e^{rt}=PVe^{rt}[/tex][tex]U\sin g\text{ this new formula:}[/tex][tex]9400\cdot e^{rt}=18800[/tex][tex]e^{0.18t}=2[/tex][tex]0.18t\text{ ln (e)= ln 2}[/tex][tex]t\text{ = }\frac{\ln 2}{0.18}[/tex][tex]t=\text{ 3.85 years}[/tex]

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