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A $4000 investment has continuous compound interest at 7% per year. How long will it take for the investment to double? Round to a whole
A $4000 investment has continuous compound interest at 7% per year. How long will it take for the investment to double? Round to a whole number for years. Show work for credit! Use the Continuous Compound Interest Formula:
The continuous compounding formula is,
A=Pert
where,
- P = the initial amount
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Given P 4000 initial investment r 7 annual interest rate A 2P ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
