Lisa, a real estate agent, earned a Big commission for selling a house. If she puts the money into an account that earns 11.32% interest com

Question

Lisa, a real estate agent, earned a Big commission for selling a house. If she puts the money into an account that earns 11.32% interest compounded continuously, how long will it take for her money to double? Round your answer to the nearest month.

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Isabella 1 month 2021-10-17T13:18:51+00:00 1 Answer 0 views 0

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    2021-10-17T13:20:49+00:00

    Answer:

    6 years and 1 month

    Step-by-step explanation:

    A= Pe^rt

    Since you need to find the double A=2P

    2P=e^0.1132t

    0.1132t=ln 2

    0.1132t=0.693

    t= 6.12

    6 years and 1 month

    ps: I think this is right but I’m not sure I had the same problem and I got this.

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