Kendall0126 Kendall0126

14-03-2017
Mathematics

contestada

The compound amount with continuous compounding is given by A= Pe^rt where P is the principal, r the rate and t the time in years. If the rate is 8% find how long it takes for the money to double that is for A= 2P (ln2=0.69315)

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Aliwohaish12 Aliwohaish12

14-03-2017

2p=pe^0.08t
2=e^0.08t
Log(2)=0.08t*log(e)
T=(log(2)÷log(e))/0.08==8.66years

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