document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=477834>Question 477834</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The amount of money in an account with continuously compounded interest is given by the formula A=Pe^rt, where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the nearest hundredth of a year how long it takes for an amount of money to double if interest is compounded continuously at 7.3%. Round to the nearest tenth. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #327427 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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/cgi-bin/show-face.mpl?user=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=327427\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The amount of money in an account with continuously compounded interest is given by the formula A=Pe^rt, where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the nearest hundredth of a year how long it takes for an amount of money to double if interest is compounded continuously at 7.3%. Round to the nearest tenth.<BR>\n" );
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document.write( "A=Pe^rt<BR>\n" );
document.write( "2P=Pe^(.073t)<BR>\n" );
document.write( "2=e^(.073t)<BR>\n" );
document.write( "ln(2)=.073t<BR>\n" );
document.write( "ln(2)/.073 = t<BR>\n" );
document.write( "9.5 years = t\r<BR>\n" );
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