document.write( "Question 190889This question is from textbook saxon algebra 2
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Algebra.Com's Answer #143374 by Edwin McCravy(20060) $\"\"$ $\"About$

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If $500 is invested at 7% compounded continuously, how long would it take for the value of the investment to reach $800?
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document.write( "The equation for continuous compounding is\r\n" );
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document.write( "where \r\n" );
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document.write( "P = the Principal, which is the same as the starting amount = $500\r\n" );
document.write( "A = the AFTER amount, which is the same as the ending amount = $800\r\n" );
document.write( "r = the rate expressed as a decimal, 0.07\r\n" );
document.write( "t = the number of years it takes for the Principal to become the \r\n" );
document.write( "    AFTER amount.  That's the unknown that we want to find.\r\n" );
document.write( "e = 2.718281828459\r\n" );
document.write( "So we substitute everything but t in\r\n" );
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document.write( "Divide both sides by 500\r\n" );
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document.write( "Use this rule: \r\n" );
document.write( "The exponential equation is equivalent to \r\n" );
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document.write( "Divide both sides by .07:\r\n" );
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document.write( "About 6.7 years.\r\n" );
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document.write( "Edwin

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