chichithegreat chichithegreat

Today at 4:58 AM
Mathematics

Answered

Find the amount of time required to double an amount at 5.84% if the interest is compounded continuously.

Answer :

LammettHash LammettHash

Today at 5:03 AM

Solve for [tex]t[/tex]:

[tex]2=e^{0.0584t}[/tex]

[tex]\ln2=0.0584t[/tex]

[tex]t=\dfrac{\ln2}{0.0584}\approx11.87[/tex]

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