$1000 is invested in an account at interest rate r=0.045, compounded continuously. Find the time required for the amount to doub
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1 answer:
Answer:
The formula you'll need is:
Years = ln (total / principal) / rate
ln means natural log
Years = ln (2,000 / 1,000) / .045
Years = ln (2) / .045
Years = 0.69314718056 / .045
Years = 15.4033
Step-by-step explanation:
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