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How many years will it take to double the debt of a loan whose annual rate is 4 . 1 % with continuous compounding? In

How many years will it take to double the debt of a loan whose annual rate is

4.1 %

with continuous compounding?

In this question you will need to solve for t in FV

=

PVert. Start by dividing both sides by PV

.

Then use logarithms to "bring down" the exponent.

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