The value of a savings bond is growing by 2.8% per year compounded continuously. At this growth rate, how many years will it take the value of the savings bond to double?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 12CC: Suppose that the initial size of a population is n0 and the population grows exponentially. Let n(t)...
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The value of a savings bond is growing by 28% per year compounded continuously. At this growth rate, how many years will it take the value of the savings bond to
double?
Select the formula that gives the doubling time.
O A.
In (0.028)
2.
O B. t- (0.028) In 2
O C. t=2 In (0.028)
OD.
In 2
t%3D
0.028
rid
O E None of the above give the doubling time.
Lo
HI
alect
Transcribed Image Text:The value of a savings bond is growing by 28% per year compounded continuously. At this growth rate, how many years will it take the value of the savings bond to double? Select the formula that gives the doubling time. O A. In (0.028) 2. O B. t- (0.028) In 2 O C. t=2 In (0.028) OD. In 2 t%3D 0.028 rid O E None of the above give the doubling time. Lo HI alect
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