1. Jaweria

How long will it take an investment to double in value if the interest rate is 6% compounded continuously?

2. SOSAlgebra6629

What is the original investment?

3. Jaweria

its just saying to double it which could be 100

4. Jaweria

so when we double it then it will be 200

5. Jaweria

the answer I am getting is 11.55 can someone check it for me please?

6. satellite73

$(1.06)^t=2$ solve for $$t$$

7. satellite73

8. satellite73

solve via $t=\frac{\ln(2)}{\ln(1.06)}$

9. satellite73

oh continuously!!

10. satellite73

$e^{.06t}=2$ $.06t=\ln(2)$ $t=\frac{\ln(2)}{.06}$

11. satellite73

no one compounds money continuously. just saying

12. Jaweria

yeah so I am right too :) my answer is 11.55

13. Jaweria