Rh4obMyrtingi Rh4obMyrtingi

13-10-2016
Mathematics

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You want to make an investment in a continuously compounding account earning 5.8% interest. how many years will it take for your investment to double in value? round the natural log value to the nearest thousandth. round the answer to the nearest year. 27 years 8 years 34 years 12 years

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mikearnold1593 mikearnold1593

17-10-2016

For continuous compounding you'd use y=Pe^rt but to evaluate this problem you need a principle, or initial amount, which you haven't given.

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