Answer :
Answer:
Step-by-step explanation:
Continuous compounding formula is
y = y0 e^(it) yo is initial deposit i is decimal interest t is years
8000 = 4000 e^(it)
2 = e^(it)
ln 2 = it
ln2 = .048 t
t = 14.4 years
Answer:
Step-by-step explanation:
Continuous compounding formula is
y = y0 e^(it) yo is initial deposit i is decimal interest t is years
8000 = 4000 e^(it)
2 = e^(it)
ln 2 = it
ln2 = .048 t
t = 14.4 years