Find the time it takes for $5,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years Find the time it takes for $285,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 7SC
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Find the time it takes for $5,600 to double when invested at an annual interest rate of 8.6%, compounded
continuously. Give your answer to 2 decimal places.
years
Find the time it takes for $285,600 to double when invested at an annual interest rate of 8.6%, compounded
continuously. Give your answer to 2 decimal places.
years
Transcribed Image Text:Find the time it takes for $5,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years Find the time it takes for $285,600 to double when invested at an annual interest rate of 8.6%, compounded continuously. Give your answer to 2 decimal places. years
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