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13)
Thor invests some money in an account earning 8% interest, compounded continuously. After how many years will
he double his investment? (Use the formla A = Pert and round answer to the nearest tenth.]
A)6.2 years
B)7.5 years
C)8.7 years
D)9.9 years

Respuesta :

traviss9191

Answer:

c8.7

Step-by-step explanation:

Po*e^(rt) = 2Po.

Divide both sides by Po:

e^rt = 2.

rt = 0.08t.

e^0.08t = 2.

0.08t*Log e = Log 2.

0.08t = Log2/Log e = 0.693

t = 8.7 yrs.

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