How many years are required for an investment to double in value if it is appreciating at the rate of 5% compounded continuously? At 5% compounded continuously, the investment doubles in years. (Round to one decimal place as needed.)
How many years are required for an investment to double in value if it is appreciating at the rate of 5% compounded continuously? At 5% compounded continuously, the investment doubles in years. (Round to one decimal place as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:How many years are required for an investment to double in value if it is appreciating at the rate of 5% compounded
continuously?
At 5% compounded continuously, the investment doubles in
(Round to one decimal place as needed.)
years.
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Transcribed Image Text:A mathematical model for world population growth over short intervals is given by P = Poet, where Po is the
population at time t = 0, r is the continuous compound rate of growth, t is the time in years, and P is the population at
time t. How long will it take the world population to quadruple if it continues to grow at its current continuous
compound rate of 1.33% per year?
Substitute the given values into the equation for the population. Express the population at time t as a function of Po.
☐Po
(Simplify your answers.)
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