Here is the problem:

"A Registered Retirement Savings Plan (RRSP) mutual fund is based on stocks, bonds, and other money market funds that are continuously compounding. A principle of $10 000 was invested in a mutual fund with an annual interest rate of 4.75% under continuous compounding. How long will it take for the investment to double?"

The answer is 14.6 years, how should I get this answer?

Guest Feb 18, 2020