How long will it take an investement to double in value if the interest rate is 6% compounded continuously?
Reference is as follows:
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Compound Interest
2009-11-13 9:06 am
回答 (1)
2009-11-13 7:07 pm
✔ 最佳答案
A(t)=A0e^(rt) where r=0.06Sub. A(t)=2A0
2A0=A0e^(rt)
ln2=rt
t=ln2/r
t=11.55 25 years
2009-11-13 11:07:46 補充：
Of course you can use the so called rule of 69 to find out the approximate answer
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