a) how long will it take an investment to double in value if the interest rate is 6% compounded continuously? b) what is the equivalent annual interest rate?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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a) how long will it take an investment to double in value if the interest rate is 6% compounded continuously? b) what is the equivalent annual interest rate?
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