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Suppose that P, is invested in a savings account where interest is compounded continuously at 6% per year.
When will the investment double itself?

Sagot :

Wolf1728idn

Answer:

We'll need the attached equation.

We'll use as an example that principal = 100 and total =200.

Years = ln (total/principal)   /  rate

where "ln" means natural log

Years = ln (200/100) / .06

Years = ln (2) / .06

Years = 0.69314718056 / .06

Years = 11.5524530093

Source:  http://www.1728.org/rate2.htm

Step-by-step explanation:

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