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Determine the time necessary for P dollars to double when it is invested at interest rate r compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.)

P=363635.63
r=5%

Respuesta :

jbmow
Annually 2=(1+.05)^t  Solve for t = Log(2)/Log(1+.05)

Monthly, daily  2=(1+.05/n)^nt  t=Log(2)/Log(1+.05/n)/n
where n is 12 months or 365 days.

Continuously A=P*e^rt  t=Ln(2)/r

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