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    A=4000(2.7183)^(.07)(8) How Do I Figure Out How Many Years It Will Take To Double My Money(4000)? I Need To Round To The Nearest Hundredths Place.

    I tried to do this a few times and I can't figure it out. Please help me.

    asked 5 months ago

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    A=4000(2.7183)^(.07)(8)

    A = Pe^rt

    Where r is the rate and t is the time

    r=0.07
    p=4000
    A=8000
    t=?

    8000=4000(2.7183)^(.07)(t)

    8000/4000 =(2.7183)^(.07)(t)

    2 = (2.7183)^(.07)(t)

    Taking ln on both sides you will get

    ln(2)=(.07)(t) ln (2.7183)
    0.69 = (.07)(t)1
    7.6/0.07 = t

    t = 9.9 >>>Answer

    answered 5 months ago   

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