Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How long it will take for an investment of 1000 dollars to double in value if the interest rate is 15 percent per year, compounded
How long it will take for an investment of 1000 dollars to double in value if the interest rate is 15 percent per year, compounded continuously?
I get confused what formula to use.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started