Find expert advice and community support for all your questions on IDNLearn.com. Ask anything and receive immediate, well-informed answers from our dedicated community of experts.
Sagot :
Based on the interest rate and continuous compounding, the investment would double in value after 18.5 years.
We have given that,
investment to double at a 3 3/4% interest rate,
When will the investment double in value?
The future value using continuous compounding is:
= Amount x e ^ (rate x time)
Interest is
= 3.75%
What is the formula of an exponential function?
2 = e ^ (0.0375 x time)
In2 = 0.0375 x time
t = In2 / 0.0375
t= 18.5 years
To learn more about the compounded continuously visit:
brainly.com/question/16731646.
#SPJ1
Your engagement is important to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Thank you for visiting IDNLearn.com. We’re here to provide accurate and reliable answers, so visit us again soon.
