Question
In the year 2003, $1700 was invested in an account that pays interest at a 2% annual rate, compounded continuously. LetA(t) be the amount of
In the year 2003, $1700 was invested in an account that pays interest at a 2% annual rate, compounded continuously. LetA(t) be the amount of money, in dollars, in the account at timet, wheret=0 corresponds to the year 2003.
How long will it take for the value of this investment to double?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
