How many years are required for an investment to double in value if it is appreciating at the rate of 3% compounded continuously? At 3% compounded continuously, the investment doubles in years. (Round to one decimal place as needed.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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How many years are required for an investment to double in value if it is appreciating at the rate of 3% compounded continuously?
At 3% compounded continuously, the investment doubles in
years.
(Round to one decimal place as needed.)
Transcribed Image Text:How many years are required for an investment to double in value if it is appreciating at the rate of 3% compounded continuously? At 3% compounded continuously, the investment doubles in years. (Round to one decimal place as needed.)
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