document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=200456>Question 200456</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi!\r<BR>\n" );
document.write( "\n" );
document.write( "You invest $15,000 in an account with an interest rate of 8%. If interest accrues continuously how long will it take for your investment to double?\r<BR>\n" );
document.write( "\n" );
document.write( "thanks for the study help! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #150805 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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/cgi-bin/show-face.mpl?user=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=150805\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You invest $15,000 in an account with an interest rate of 8%. If interest accrues continuously how long will it take for your investment to double? <BR>\n" );
document.write( "--------------<BR>\n" );
document.write( "For compounding continuously (I think that's what you mean by accruing):<BR>\n" );
document.write( "FV = Amt*e^(rt)<BR>\n" );
document.write( "e^0.08t = 2<BR>\n" );
document.write( "0.08t = ln(2)<BR>\n" );
document.write( "t = ln(2)/0/08<BR>\n" );
document.write( "t = ~ 8.664 periods<BR>\n" );
document.write( "The periods have to match the interest period, ie, 8 years for 8% per year, 8 hours for 8% per hour, etc.<BR>\n" );
document.write( "The amount, the $15,000, is not relevant to the problem. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );