document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=206833>Question 206833</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0534463428/algebrahomeworkh>Intermediate Algebra</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> How long would it take for $1000 to grow to $4300 at 5% interest. Compounded Continously. Please go step by step. Thanks. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #157436 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=157436\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  How long would it take for $1000 to grow to $4300 at 5% interest. Compounded Continously<BR>\n" );
document.write( "------------<BR>\n" );
document.write( "FV = PV*e^rt<BR>\n" );
document.write( "4300 = 1000*e^0.05t<BR>\n" );
document.write( "e^0.05t = 4.3<BR>\n" );
document.write( "0.05t = ln(4.3)<BR>\n" );
document.write( "t = 20ln(4.3)<BR>\n" );
document.write( "t =~ 29.1723<BR>\n" );
document.write( "------------<BR>\n" );
document.write( "If the interest rate is 5% per year, then it's 29... years.<BR>\n" );
document.write( "If it's 5% per day, then it's 29... days, etc<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );