With continuous compounding, a principal of P dollars accumulates to an amount A given by the equation A = Pert where r is the interest rate and t is the time in years. With A = 2P, the equation becomes 2P = Pert Assume continuous compounding to find how long it takes a given amount to double at the given interest rate. (Round your answer to two decimal places.) r = 6% yr

Q: With continuous compounding, a principal of P dollars accumulates to an amount A given by the…

A: With continuous compounding, a principal of P dollars accumulates to an amount A given by the…

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