Banking In Exercises 63-68, determine how long it takes to double the given investment ifr is the interest rate and the interest is compounded continuously. Assume that no withdrawals or further deposits are made. 63. Initial Amount: $1,500; r = 6% 64. Initial Amount: $3,000; r = 4% 65. Initial Amount: $4,000; r = 5.75%

Algebra and Trigonometry (6th Edition)
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ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Number 65, please

**Banking**

In Exercises 63–68, determine how long it takes to double the given investment if *r* is the interest rate and the interest is compounded continuously. Assume that no withdrawals or further deposits are made.

63. Initial Amount: $1,500; *r* = 6%

64. Initial Amount: $3,000; *r* = 4%

65. Initial Amount: $4,000; *r* = 5.75%

66. Initial Amount: $6,000; *r* = 6.25%

67. Initial Amount: $2,700; *r* = 7.5%

68. Initial Amount: $3,800; *r* = 5.8%
Transcribed Image Text:**Banking** In Exercises 63–68, determine how long it takes to double the given investment if *r* is the interest rate and the interest is compounded continuously. Assume that no withdrawals or further deposits are made. 63. Initial Amount: $1,500; *r* = 6% 64. Initial Amount: $3,000; *r* = 4% 65. Initial Amount: $4,000; *r* = 5.75% 66. Initial Amount: $6,000; *r* = 6.25% 67. Initial Amount: $2,700; *r* = 7.5% 68. Initial Amount: $3,800; *r* = 5.8%
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