Find the time it takes for $8,300 to double when invested at an annual interest rate of 11%, compounded continuously. years

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 31HP
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Find the time it takes for $8,300 to double when invested at an annual interest rate of 11%, compounded
continuously.
years
Find the time it takes for $830,000 to double when invested at an annual interest rate of 11%, compounded
continuously.
years
Give your answers accurate to 4 decimal places.
Transcribed Image Text:Find the time it takes for $8,300 to double when invested at an annual interest rate of 11%, compounded continuously. years Find the time it takes for $830,000 to double when invested at an annual interest rate of 11%, compounded continuously. years Give your answers accurate to 4 decimal places.
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