Question

an initial investment of $9000 grows at an annual interest rate of 5% compounded continuously. how long will it take to double the investment?

Answer 1

Answer:

20 years

Step-by-step explanation:

9000/ 100= 900 = 10%

900/2= 450

450 x 2= 900

900 x 10= 9000

Now we multiply 10 by 2 because we doubled the value of our 450 into a 900 and now we get 20.