Lisa, a real estate agent, earned a Big commission for selling a house. If she puts the money into an account that earns 11.32% interest compounded continuously, how long will it take for her money to double? Round your answer to the nearest month.
1 answer:
Answer:
6 years and 1 month
Step-by-step explanation:
A= Pe^rt
Since you need to find the double A=2P
2P=e^0.1132t
0.1132t=ln 2
0.1132t=0.693
t= 6.12
6 years and 1 month
ps: I think this is right but I'm not sure I had the same problem and I got this.
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