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kvasek [131]
3 years ago
6

How many years will it take $39,450 to double at an interest rate of 3.2%, continuously compounded? *

Mathematics
1 answer:
taurus [48]3 years ago
4 0
Years = natural log (total / principal)  / rate
Years = ln (78,900 / 39,450) / .032
Years = ln (2) / .032
Years = 0.69314718056 / .032
Years = <span> <span> <span> 21.6608493925 </span> </span> </span>
And here's a calculator to check that answer:
http://www.1728.org/compint.htm


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