We will assume the principal amount to be $1. We need to find the time in which it becomes $2 i.e. double the capital.
We need to solve the following equation:
Hence it will take 10.2448 years at 7% compound interest to double your capital.
We need to solve the following equation
It will take 14.2857 years at 7% simple interest to double your capital
Continuously compounded interest
Hence It will take 9.9021 years at 7% continuously compounded interest to double your capital.
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