The amount A of dollars accumulated after t years through an investment of An dollars at an interest rate of r, Age The doubling time of an investment compounded continuously, can be determined from the function A = is the time required for an investment to double in value. Find the doubling time (rounded to 3 decimal places) for an investment made at a. 9 % interest compounded continuously years b. 10 % interest compounded continuously. years c. 12 % interest compounded continuously. years

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CR: Chapter Review
Problem 11CC
icon
Related questions
Question
The amount A of dollars accumulated after t years through an investment of An dollars at an interest rate of r,
compounded continuously, can be determined from the function A Age The doubling time of an investment
is the time required for an investment to double in value. Find the doubling time (rounded to 3 decimal places)
for an investment made at
a. 9 % interest compounded continuously
years
b. 10 % interest compounded continuously.
years
c. 12 % interest compounded continuously.
years
Transcribed Image Text:The amount A of dollars accumulated after t years through an investment of An dollars at an interest rate of r, compounded continuously, can be determined from the function A Age The doubling time of an investment is the time required for an investment to double in value. Find the doubling time (rounded to 3 decimal places) for an investment made at a. 9 % interest compounded continuously years b. 10 % interest compounded continuously. years c. 12 % interest compounded continuously. years
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer