How long would $8600 have to be invested into a fund earning 8.1% interest, compounded cotinuously, in order for the initial investment to double? a) It would have to be invested for years in order to double. (Round to 2 decimal places.) b) What interest rate, compounded continuously, would be necessary for the same investment to double in 5 years? The interest rate would have to be % {Give a percent to at least 3 decimal places}

How long would $8600 have to be invested into a fund earning 8.1% interest, compounded cotinuously, in order for the initial investment to double? a) It would have to be invested for years in order to double. (Round to 2 decimal places.) b) What interest rate, compounded continuously, would be necessary for the same investment to double in 5 years? The interest rate would have to be % {Give a percent to at least 3 decimal places}

Algebra and Trigonometry (6th Edition)

6th Edition

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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Question

How long would $8600 have to be invested into a fund earning 8.1% interest, compounded continuously, in
order for the initial investment to double?
a) It would have to be invested for
years in order to double.
(Round to 2 decimal places.)
b) What interest rate, compounded continuously, would be necessary for the same investment to double in
5 years?
The interest rate would have to be
[Give a percent to at least 3 decimal
places}

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