Suppose that a certain principal is invested at 6% per
Chapter 5, Problem 22(choose chapter or problem)
Suppose that a certain principal is invested at 6% per annum compounded continuously. (a) Use the rule of 70, T2 70/R, to estimate the doubling time. (b) Compute the doubling time using the formula T2 (ln 2)/r. (c) Do your answers in (a) and (b) differ by more than 2 months? 2
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