document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=236394>Question 236394</A>: <I><SPAN STYLE=\"word-break: break-all;\"> This problem is a story problem using the formula listed below.\r<BR>\n" );
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document.write( " When interest is compounded continuously, the balance in an account after t years is given by    \"A=Pe^rt\"<BR>\n" );
document.write( "Where P is the initial investment and r is the interest rate.\r<BR>\n" );
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document.write( "Maya has deposited $600.00 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #174006 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=174006\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Maya has deposited $600.00 in an account that pays 5.64% interest, compounded continuously. How long will it take for her money to double.<BR>\n" );
document.write( "1200 = 600e^(0.0564t)<BR>\n" );
document.write( "e^(0.0564t) = 2<BR>\n" );
document.write( "Take the natural log to get:<BR>\n" );
document.write( "0.0564t = ln(2)<BR>\n" );
document.write( "t = [ln(2)]/0.0564<BR>\n" );
document.write( "t = 12.29 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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