document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=297013>Question 297013</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If $5000 is invested in an account that pays interest compounded continuously, how long will it take to grow to $11,300 at 5.5%?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #213932 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=213932\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If $5000 is invested in an account that pays interest compounded continuously, how long will it take to grow to $11,300 at 5.5%? <BR>\n" );
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document.write( "A(t) = Pe^(rt)<BR>\n" );
document.write( "11,300 = 5000*e^(0.055t)<BR>\n" );
document.write( "2.26 = e^(0.055t)<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "Take the natural log to get:<BR>\n" );
document.write( "0.055t = ln(2.26)<BR>\n" );
document.write( "t = 14.8248...<BR>\n" );
document.write( "----------------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );