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Mathematics

Answered

Find the time it takes for $940,000 to double when invested at an annual interest rate of 18%, compounded continuously.

Answer :

DimariB444577 DimariB444577

Today at 5:14 AM

1)

Principal : 940,000

Future Value : 1,880,000

i= 18% = 0.18

Compounded Continuously

2) Let's use the formula for Compounded Interest, to express this exponential growth.

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