document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=548047>Question 548047</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take for $8200 to grow to $46,400 at an interest rate for 10.5% if the interest is compounded continuously? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #358889 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=358889\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long will it take for $8200 to grow to $46,400 at an interest rate for 10.5% if the interest is compounded continuously?<BR>\n" );
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document.write( "Interest formula for continuous compounding: A=Pe^rt, P=initial investment, r=annual interest rate, A=amount after t years.<BR>\n" );
document.write( "46400=8200e^.105t<BR>\n" );
document.write( "464/82=e^.105t<BR>\n" );
document.write( "take log (base e) of both sides using calculator<BR>\n" );
document.write( "ln(464/82)=.105t*lne<BR>\n" );
document.write( "lne=log of base=1<BR>\n" );
document.write( "t=ln(464/82)/.105<BR>\n" );
document.write( "t&#8776;16.5 years<BR>\n" );
document.write( "ans:For $8200 to grow to $46,400 will take 16.5 years </SPAN>\n" );
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