1. anonymous

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

2. anonymous

What is the original investment?

3. anonymous

its just saying to double it which could be 100

4. anonymous

so when we double it then it will be 200

5. anonymous

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

6. anonymous

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

7. anonymous

8. anonymous

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

9. anonymous

oh continuously!!

10. anonymous

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

11. anonymous

no one compounds money continuously. just saying

12. anonymous

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

13. anonymous