document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=509750>Question 509750</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take a $300 investment to be worth $400 if it is continuously compounded at 9% per year? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #341603 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><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=341603\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long will it take a $300 investment to be worth $400 if it is continuously compounded at 9% per year?<BR>\n" );
document.write( "**<BR>\n" );
document.write( "A=Pe^rt, P=$invested, r=annual rate of interest, A=amount after t years<BR>\n" );
document.write( "..<BR>\n" );
document.write( "400=300e^.09t<BR>\n" );
document.write( "400/300=e^.09t<BR>\n" );
document.write( "4/3=e^.09t<BR>\n" );
document.write( "take ln of both sides<BR>\n" );
document.write( "ln(4/3)=.09t*lne<BR>\n" );
document.write( "log of base=1<BR>\n" );
document.write( ".2877=.09t<BR>\n" );
document.write( "t=.2877/.09=3.2 yrs<BR>\n" );
document.write( "ans:<BR>\n" );
document.write( "It will take about 3.2 years for a $300 investment to be worth $400 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );