document.write( "Question 138727: Please help me with this problem,thanks. A commonly asked question is how long will it take to double my money? At 6% interest rate and continuous compounding , what is the answer? Round your answer to the hundredths place.
\n" ); document.write( "If a bank compounds continually , then the formula used is A=Pe^rt. Please explain your answer. \n" ); document.write( "
Algebra.Com's Answer #101225 by stanbon(75887)\"\" \"About 
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Please help me with this problem,thanks. A commonly asked question is how long will it take to double my money? At 6% interest rate and continuous compounding , what is the answer? Round your answer to the hundredths place.
\n" ); document.write( "If a bank compounds continually , then the formula used is A=Pe^rt. Please explain your answer.
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\n" ); document.write( "If \"P\" is doubled, it becomes 2P.
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\n" ); document.write( "2P = P e^(0.06t)
\n" ); document.write( "2 = e^(0.06t)
\n" ); document.write( "Take the natural log.
\n" ); document.write( "0.06t = ln2
\n" ); document.write( "t = ln2 / 0.06
\n" ); document.write( "t = 11,55 years to double.\r
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\n" ); document.write( "Cheers,
\n" ); document.write( "Staln H. \n" ); document.write( "
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