document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=210740>Question 210740</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Solve the problem.\r<BR>\n" );
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document.write( "Suppose that $7000 is invested in an account where interest is compounded continuously at 3.2% per year. What is the doubling time? <BR>\n" );
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document.write( "A)4.6 yr<BR>\n" );
document.write( "B)21.7 yr<BR>\n" );
document.write( "C)2.2 yr<BR>\n" );
document.write( "D)0.2 yr  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #159231 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=159231\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Solve the problem. <BR>\n" );
document.write( "Suppose that $7000 is invested in an account where interest is compounded continuously at 3.2% per year. What is the doubling time?<BR>\n" );
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document.write( "A(t) = P*e^(rt)<BR>\n" );
document.write( "For doubling time:<BR>\n" );
document.write( "2P = P*e^(rt)<BR>\n" );
document.write( "e^rt = 2<BR>\n" );
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document.write( "Your problem:<BR>\n" );
document.write( "e^(0.032t) = 2<BR>\n" );
document.write( "Take the natural log of both sides to get:<BR>\n" );
document.write( "0.032t = ln(2)<BR>\n" );
document.write( "t = [ln(2)]/0.032<BR>\n" );
document.write( "t = 21.66 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. \r<BR>\n" );
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document.write( "A)4.6 yr<BR>\n" );
document.write( "B)21.7 yr<BR>\n" );
document.write( "C)2.2 yr<BR>\n" );
document.write( "D)0.2 yr \r<BR>\n" );
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document.write( " </SPAN>\n" );
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