Chapter 2: Problem 6
Suppose that a sum \(S_{0}\) is invested at an annual rate of return \(r\) compounded continuously. $$ \begin{array}{l}{\text { (a) Find the time } T \text { required for the original sum to double in value as a function of } r .} \\ {\text { (b) Determine } T \text { ifr }=7 \% \text { the achieved if the initial investment is to double in }} \\ {\text { glears. }}\end{array} $$
Short Answer
Step by step solution
Key Concepts
These are the key concepts you need to understand to accurately answer the question.