How long will it take for $2500 to double if it is invested at 6% annual interest compounded 6 times a year? enter exact calculations or round to 3 decimal places.
- it will take to double.
how long will it take if the interest is compounded continuously?
-compounded continuously, it would only take

Part 1)

Part 2)

Step-by-step explanation:

Part 1) we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above

Apply log both sides

solve for t

Part 2) we know that

The formula to calculate continuously compounded interest is equal to

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

substitute in the formula above

Apply ln both sides

black lol

step-by-step explanation:

h

i can tell you jamal now has 3 cookies xd

tommy has 2.

this made me lol.

correct answer:

b.(19,-2)