Money deposited into XYZ Bank doubles every 25 years. The bank compounds interest continuously. What annual interest rate does this bank offer? Express your answer as a percentage rounded to 2 decimal places. 

 

UVW Bank offers an annual interest rate of 5.25% compounded continuously. How long will it take for money to double in this bank? Round your answer to the nearest whole number.

 

Answer rating: 100% (QA)

1 For XYZ Bank Given that the money deposited doubles every 25 years we can use the formula for cont... View the full answer