Math Problem Statement
The doubling time of an investment with continuous compound interest is 12.4 years. If the investment is worth $25 comma 000 today, how much will it be worth 5 years from now?
Solution
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Math Problem Analysis
Mathematical Concepts
Continuous Compound Interest
Exponential Growth
Formulas
A = P * e^(rt)
Doubling time formula: T_double = ln(2) / r
Theorems
Continuous Compounding Theorem
Suitable Grade Level
Grades 10-12
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