document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=48216>Question 48216</A>: <I><SPAN STYLE=\"word-break: break-all;\"> This is not an exact number in my book it is on a worksheet , “How long will it take to double my money?” At 8% interest rate and continuous compounding, what is the answer? Round your answer to the hundredth's place.? Please show how you got your answer </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #31901 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=31901\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> At 8% interest rate and continuous compounding, what is the answer? Round your answer to the hundredth's place\r<BR>\n" );
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document.write( "A = Pe^(rt)<BR>\n" );
document.write( "Doubling the money means A= 2P since P is the amount you start with.\r<BR>\n" );
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document.write( "2P = Pe^rt<BR>\n" );
document.write( "2 =2^(0.08t)<BR>\n" );
document.write( "Take the natural log of both sides to get:<BR>\n" );
document.write( "ln2 = 0.08t<BR>\n" );
document.write( "t= (ln2)/0.08<BR>\n" );
document.write( "t=8.66 years(The money will double in 8.66 years)\r<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.  </SPAN>\n" );
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