Find the doubling time of an investment earning 8% interest if interest is compounded continuously. The doubling time of an investment earning 8% interest if interest is compounded continuously is years.

8.66 years

Step-by-step explanation:

Given that:

Interest rate = 8%

Using the exponential growth function:

A = Ao * e^(rt)

Where A = final amount

Ao = Initial amount

r = growth rate

t = time

Here we are to calculate the time it takes an investment earning 8% interest to double;

rate (r) = 8% = 0.08

2A = A * e^(rt)

Divide both sides by A

2 = e^(rt)

2 = e^(0.08 * t)

2 = e^(0.08t)

In(2) = 0.08t

0.6931471 = 0.08t

Divide both sides by 0.08

0.6931471 / 0.08 = 0.08t / 0.08

8.6643397 = t

t = 8.66 years

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