problem with compound interest: find doubling time

phillipsjr9800

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Joined
Apr 6, 2008
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I have to complete a table using compound interest.

I know the formual is A=Pe^rt

For this problem I am give the amount after 10 years and the interest rate.
So it should look like this to start 10,000 = Pe^.045t

now I need to find the initial investment and time to double.
This is where I get lost.

Any help would be greatly apprecated.
 

galactus

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Sep 28, 2005
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Re: problem with compound interest

The time to double. Then A should be twice P. In this case, P=5000.

Now, solve for t.

\(\displaystyle 10,000=5000e^{.045t}\)

Can you solve for t?.
 
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