document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=152434>Question 152434</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A woman deposits $50,000 in a savings account with 4% continuously compounded interest. How many years must she wait until the balance has doubled? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #112028 by </B><A HREF=/tutors/aboutme.mpl?userid=orca><B>orca(409)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=orca><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=112028\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose her money will be doubled at the end of n years.<BR>\n" );
document.write( "At the end of n years she will have 50,000(1 + 4%)^n.<BR>\n" );
document.write( "Set it equal to 2*50,000, we have<BR>\n" );
document.write( "50,000(1 + 4%)^n = 2*50,000<BR>\n" );
document.write( "Dividing both sides by 50,000, we have<BR>\n" );
document.write( "(1 + 4%)^n = 2<BR>\n" );
document.write( "1.04^n = 2<BR>\n" );
document.write( "n = log2/log1.04 = 17.7 <BR>\n" );
document.write( "So she need to wait 18 years.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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