The rate of interest and principle amount is
.
The compound interest can be calculated by the equation .
Where is number of times interest compounded in an year.
The amount is doubled in years.
The amount .
(a)
\For annually compounded interest:
\Substitute ,
,
and
.
Take natural logarithm on both sides.
\(b)
\For monthly compounded interest :
\Substitute ,
and
and
.
Take natural logarithm on both sides.
\(c)
\For daily compounded interest :
\Substitute ,
and
and
.
Take natural logarithm on both sides.
\(d)
\For continously compounded interest :
\For compounded continously .
Substitute and
and
.
Take natural logarithm on both sides.
\(a) For annually compounded interest time is .
(b) For monthly compounded interest time is .
(c) For daily compounded interest time is .
(d) For continously compounded interest time is .