Initial investment: $750
annual rate: ?
time to double: 7 and 3/4 yrs
amount after 10 yrs: ?
using the formula a=pe^rt, find the annual rate, and amount after 10 years..
so !

A = 1500 (750 doubled) 

P = 750 

r = ? 

t = 7.75 

1500 = 750 x e ^ (r x 7.75) - divide both sides by 750 

2 = e ^ (r x 7.75) - take the natural log of both sides 

ln(2) = r x 7.75 

.6931 = r x 7.75 - divide both sides by 7.75 

.6931/7.75 = r 

.08943 = r 

8.943% = r

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