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3 years ago

6

The compound amount with continuous compounding is given by A= Pe^rt where P is the principal, r the rate and t the time in year

s. If the rate is 8% find how long it takes for the money to double that is for A= 2P (ln2=0.69315)

1 answer:

natta225 [31]3 years ago

6 0

2p=pe^0.08t
2=e^0.08t
Log(2)=0.08t*log(e)
T=(log(2)÷log(e))/0.08==8.66years

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