A community for students.
Here's the question you clicked on:
 0 viewing
gfoste00
 3 years ago
How long will it take for an investment of $3000 to double in value if the interest rate is 7.5% per year, compounded continuously? (Round your answer to two decimal places.)
gfoste00
 3 years ago
How long will it take for an investment of $3000 to double in value if the interest rate is 7.5% per year, compounded continuously? (Round your answer to two decimal places.)

This Question is Closed

gandalfwiz
 3 years ago
Best ResponseYou've already chosen the best response.1Vn=Or(1+orrate)n Values after n years equals the original value times (1 +or the rate)to the n years power

gandalfwiz
 3 years ago
Best ResponseYou've already chosen the best response.1solve for n and that's your answer

gfoste00
 3 years ago
Best ResponseYou've already chosen the best response.0cause that doesnt make sense

101Ryan101
 3 years ago
Best ResponseYou've already chosen the best response.1Actually, this is the equation because it's compounded continuously... 6000 = 3000e^(.075t) divide both sides by the 3000 and then take the natural log to get rid of the e. ln(2000) = .075t t = ln(2000)/.075 ~ 101.3453661... 101.35 years (rounded)
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.