How long will it take to double my money @ 6% continuous compounding?

Question

If my principle started @ $3,000.

Answer 1

1.06^x=2

x log 1.06=log 2

x=long2/ log 1.06= 11.896

so 12 years

Answer 2

I agree with climberg's answer.

To do CONTINUOUS compunding, you must use e (the base

of the natural logarithm)

The other answerers are only compounding yearly and you did

not ask that.

11.55 years  ANSWER

Answer 3

A=Pe^(rt)

6000=3000e^(.06t)

2=e^.06t

ln2=.06t

t=(ln2)/.06

t=11.55 years.

make it a good day

Answer 4

well if you keep multiplying by 1.06 12 times, you will get around $6,036