document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=531391>Question 531391</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose $4000.00 is invested at interest rate K, compounded continuously, and grows to $4943.71 in 6 years:<BR>\n" );
document.write( "Find the interest rate.<BR>\n" );
document.write( "Find the exponential growth function.<BR>\n" );
document.write( "Find the balance after 10 years.<BR>\n" );
document.write( "Find the doubling time. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #350427 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=350427\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose $4000.00 is invested at interest rate K, compounded continuously, and grows to $4943.71 in 6 years:<BR>\n" );
document.write( "---<BR>\n" );
document.write( "A(t) = Ao*e^(rt)<BR>\n" );
document.write( "4943.71 = 4000*e^(6K)<BR>\n" );
document.write( "e^(6K) = 1.2359<BR>\n" );
document.write( "6K = ln(1.2359)<BR>\n" );
document.write( "K = 0.0353<BR>\n" );
document.write( "-----------------------<BR>\n" );
document.write( "Find the interest rate:::3.53%<BR>\n" );
document.write( "Find the exponential growth function.A(t) = 4000*e^(0.0353t)<BR>\n" );
document.write( "----------------<BR>\n" );
document.write( "Find the balance after 10 years.A(10) =4000*e^(0.353) = $5693.32<BR>\n" );
document.write( "---------------------------- <BR>\n" );
document.write( "Find the doubling time.<BR>\n" );
document.write( "e^(0.0353t) = 2<BR>\n" );
document.write( "0.0353t = ln2<BR>\n" );
document.write( "t = 19.64 years<BR>\n" );
document.write( "=================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );