Find the missing values assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Annual
Investment |% Rate
Time to
Double
Amount After
10 Years
$2000
5.6%
yr $

The number of years it would take the investment to double is 12.38 years.

The amount after 10 years is  $21,151.95.

The formula used to determine the future value of an investment when interest is compounded continuously is:

FV =  A x x N

Time to double :

FV = $4000

FV / PV = 2

n = log(2) ÷ log(e) ÷ 0.056 = 12.38 years

Amount after 10 years

$2000 x x 10 = $21,151.95

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Step-by-step explanation:

Using the compound interest formula to calculate the amount compounded after 10years.

P = principal  = $2000

r = rate (in %) = 5.6%

t = time (in years) = 10years

n = 1year = time used in compounding

Amount compounded after 10 years is $3448.81

a.

step-by-step explanation:

step 1 distribute 2 to every term in the parentheses

step 2 add 10 on both sides of the equal sign

step-by-step explanation:

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