algebra 2

Question

0

1295

1

how long would it take to double your principle at an annual rate of 7% compounded continuously?

Guest Feb 5, 2012

admin · Answer 1 · 2012-02-06T05:41:09

jen:
how long would it take to double your principle at an annual rate of 7% compounded continuously?

nice question.

(1+0.07)^x = 2
[input]log(2, 1.07)[/input]

rule of thumb:
70 / percent ≈ number in years to double