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Jaweria
Can anyone please help me with my math problems?
How long will it take an investment to double in value if the interest rate is 6% compounded continuously?
What is the original investment?
its just saying to double it which could be 100
so when we double it then it will be 200
the answer I am getting is 11.55 can someone check it for me please?
\[(1.06)^t=2\] solve for \(t\)
doesn't matter what you start with, doubling time is doubling time
solve via \[t=\frac{\ln(2)}{\ln(1.06)}\]
\[e^{.06t}=2\] \[.06t=\ln(2)\] \[t=\frac{\ln(2)}{.06}\]
no one compounds money continuously. just saying
yeah so I am right too :) my answer is 11.55
can you please help me with some little bit more problems?
When a cold drink is taken from a refrigerator, its temperature is 5°C. After 25 minutes in a 20°C room its temperature has increased to 10°C. (a) What is the temperature of the drink after 50C minutes? (b) When will its temperature be 15°C?