Question: If interest is compounded continuously with an interest rate i, a bank account will double in t years according to i = (ln 2)/t. Find
If interest is compounded continuously with an interest rate i, a bank account will double in t years according to i = (ln 2)/t. Find i if the account is to double in 25 years.
Step by Step Solution
3.28 Rating (157 Votes )
There are 3 Steps involved in it
We are given that the interest rate i for continuous compounding is given by i ln 2t where ... View full answer
Get step-by-step solutions from verified subject matter experts
