document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=306024>Question 306024</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a bank pays 4.4% interest compounded continuously, how long does it take to triple the original amount?<BR>\n" );
document.write( "Here's what I tried: <BR>\n" );
document.write( "y = a(1 + r)^t<BR>\n" );
document.write( "3a = a(1 = 4.4) ^ t. <BR>\n" );
document.write( "I solved for t by first dividing by a, then using the property of equality for logarithms and came up with .65142 but I don't understand the answer.  If t represents the time period, what is it?  65% of one year??  <BR>\n" );
document.write( "Or did I work it wrong?<BR>\n" );
document.write( "Thank you! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #219070 by </B><A HREF=/tutors/aboutme.mpl?userid=themathtutor2009><B>themathtutor2009(81)</B></A><img src=\"/images/stars/stars-08.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=themathtutor2009><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=219070\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=P*e^(rt)\r<BR>\n" );
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document.write( "3P=P*e^(rt)\r<BR>\n" );
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document.write( "3=e^(rt)\r<BR>\n" );
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document.write( "3=e^(0.044t)\r<BR>\n" );
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document.write( "ln(3)=0.044t\r<BR>\n" );
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document.write( "ln(3)/0.044=t\r<BR>\n" );
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document.write( "t=ln(3)/0.044\r<BR>\n" );
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document.write( "t=24.9684611\r<BR>\n" );
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document.write( "Takes about 25 years<BR>\n" );
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