Problema Solution
Suppose that $2500 is invested at an interest rate of 5.5% per year, compounded continuously. After how many years will the initial investment be doubled?
Do not round any intermediate computations, and round your answer to the nearest hundredth
Answer provided by our tutors
Suppose that $2500 is invested at an interest rate of 5.5% per year, compounded continuously. After how many years will the initial investment be doubled?
P = $2500
A = $5000
r = 5.5%
Answer: Number of years = 12.6027 years = 13 years