document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=189926>Question 189926</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The problem is:<BR>\n" );
document.write( "Assume the cost of a loaf of bread is $4.  With continuous compounding, find the time it would take for the cost totriple at an annual inflation rate of 6%.\r<BR>\n" );
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document.write( "This seemed simple at first and I can figure it out the long way by compounding the interest each year, but I know there must be a formula I can set up to plug in and get the answer much quicker - thanks for your help! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #142503 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=142503\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Assume the cost of a loaf of bread is $4. With continuous compounding, find the time it would take for the cost to triple at an annual inflation rate of 6%. <BR>\n" );
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document.write( "A(t) = A(0)(1+r)^t<BR>\n" );
document.write( "3*4 = 4(1.06)^t<BR>\n" );
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document.write( "3 = (1.06)^t<BR>\n" );
document.write( "Take the log of boh sides to get:<BR>\n" );
document.write( "t*log(1.06) = log3<BR>\n" );
document.write( "t = (log3)/(log1.06)<BR>\n" );
document.write( "t = 18.85 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
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