How long will it take an investment to double if it is invested at a 5% annual interest rate and compounded continuously?
So, I'm really drawing a complete blank on this, i know P=e^rt, so P=e^0.05t, but that's far as I got. Thanks!
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if investment is P then and the year for doubling is T then 2P= P(1+5/100)^T
⇒ 2=(1.02)^T
⇒ 2=(1.02)^T
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