document.write( "Question 140090: Need help with this. Thanks!\r
\n" );
document.write( "\n" );
document.write( "A woman deposits $50,000 in a savings account with 4% continuously compound interest. How many years must she wait until the balance has doubled? \n" );
document.write( "
Algebra.Com's Answer #102091 by scott8148(6628) You can put this solution on YOUR website! the formula you need is A=Pe^(rt) \n" ); document.write( "__ A is the Amount after time t \n" ); document.write( "__ P is the Principal you start with \n" ); document.write( "__ e is Euler's number (the base for natural logarithms) \n" ); document.write( "__ r is the rate of interest \n" ); document.write( "__ r and t have to use the same time units\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "100000=50000e^(.04t) __ dividing by 50000 __ 2=e^(.04t)\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "taking natural log __ ln(2)=.04t __ dividing by .04 __ [ln(2)]/.04=t \n" ); document.write( " |