How Long Will It Take an Investment of $4,000 to Double

question 169

Short Answer

How long will it take an investment of $4,000 to double if the investment earns interest at the rate of 7% compounded continuously? Round your answer to the nearest hundredth.
​ __________ year(s)

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Definitions:

Collaborative Consumption

The coordinated sharing or exchange of goods and services through digital platforms or community-based practices, leveraging technology to facilitate peer-to-peer borrowing and lending.

Private Ownership

The legal ownership of assets or property by individuals or corporations, as opposed to public or government ownership.

User Developed Content

Content created by the users of a platform or service rather than its owners or professional creators.

User-Created Content

Content generated by users of a platform or service rather than its owners or creators, typically found in social media or collaborative platforms.