Question: 9. [-H Points] DETAILS MY NOTES How long does it take for an investment earning interest at a rate of 20% compounded continuously to double
![9. [-H Points] DETAILS MY NOTES How long does it take](https://s3.amazonaws.com/si.experts.images/answers/2024/06/666819577b46c_2636668195769707.jpg)

9. [-H Points] DETAILS MY NOTES How long does it take for an investment earning interest at a rate of 20% compounded continuously to double in value? Exact length of time (without using a calculator}, t = |:| years Length of time, rounded to 2 decimal places 2 \\:| years 10. [-:"1 Points] DETAILS MY NOTES ' Math 110 Course Resources ' - Compound Interest Course Packet on nding a continuous interest rate You have 515,000 in the bank comfortably earning 4% interest compounded semiannually. Your cousin needs $15,000 to buy a new car. In order to get the same total return, what interest rate r should you request from him if the money you lend him is to be compounded continuously? Exact interest rate [without using a calculator), r = Interest rater as a percent, rounded to 2 decimal places 2 \\:| 3:1
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
