Question

How long does it take $150 to grow to $600 at 5% annual percentage rate compounded continously? Round to the nearest whole number. Must show work.

Answer 1

Or, if your money is earning a 5 percent interest rate, you'll double it in 14.4 years (72 divided by 5 equals 14.4). If your money is earning a measly 1 percent interest rate, it will take you—yep, you guessed it—a whopping 72 years to double it.