anonymous
  • anonymous
How long will it take for an investment of $3000 to double in value if the interest rate is 8.5% per year, compounded continuously? Please round your answer to two decimal places.
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
chestercat
  • chestercat
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
Solve this equation : 6000 = 3000(e ^ (N*r)), where N = unknown value and r = 8.5 percent
anonymous
  • anonymous
It should be one of the formulas listed in your time value of money module, by taking the limit of F(future value) as M(compounding period) approaches infinity
anonymous
  • anonymous
okay i got it

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

anonymous
  • anonymous
can you help me with a different problem
anonymous
  • anonymous
A sum of $3000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $4199.91 in the given time, what was the interest rate? Please round your answer to two decimal places.
anonymous
  • anonymous
4199.91 = 3000[(1 + i)^8), its 8 because 4 years has 8 6 month periods, solve for i

Looking for something else?

Not the answer you are looking for? Search for more explanations.