megankate38 megankate38

01-03-2017
Mathematics

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How long does it take for an investment to double in value if it is invested 8% per annum compounded monthly? Compounded continuously? It's number 29.

How long does it take for an investment to double in value if it is invested 8 per annum compounded monthly Compounded continuously Its number 29 class=

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Aliwohaish12 Aliwohaish12

01-03-2017

2p=pe^rt
2=e^0.08t
Log(2)=0.08t*log(e)
0.08t=log(2)/log(e)
T=[log(2)/log(e)]/0.08
T==8.7 years

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