l cricket 8:52 PM a myopenmath.com myOpenMath Home > MAT 135 Summer Online I, 20
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Question
l cricket 8:52 PM a myopenmath.com myOpenMath Home > MAT 135 Summer Online I, 2018> Assessment Chapter 4 Pre-Final Quiz Due Fri 07/13/2018 11:59 pm Questions Q1 Q2 Q3 Q4 Q5 Q6 7Q8 Q9 Q 10 Q 11Q 12 Print Version If an investment account earns 8% interest annual percent rate (APR), componded continuously. Approximatly how long will it take for $2, 235 to double? 8.7 years 16 years O25 years O7.7 years Points possible: 1 Unlimited attempts. Message instructor about this question License Submit ???Explanation / Answer
applying continuous compounding formula
A = P e^rt
2*2235 = 2235 e^.08t
ln 2 = .08t
t = 8.664
hence, t = 8.7 years
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