document.write( "Question 593443: How long will it take $750 to quadruple in an account that pays 4.5% interest compounded continuously? \n" ); document.write( "
Algebra.Com's Answer #376315 by lwsshak3(11628)\"\" \"About 
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How long will it take $750 to quadruple in an account that pays 4.5% interest compounded continuously?
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\n" ); document.write( "Formula for continuous compounding:A= Pe^rt, P=initial investment, r=interest per period, t=number of periods, A=amount after t periods.
\n" ); document.write( "For given problem:
\n" ); document.write( "P=750
\n" ); document.write( "r=4.5% per year
\n" ); document.write( "t=number of years
\n" ); document.write( "A=4P
\n" ); document.write( "..
\n" ); document.write( "A/P=e^rt
\n" ); document.write( "4=e^rt=e^.045t
\n" ); document.write( "take log of both sides
\n" ); document.write( ".045t*lne=ln4
\n" ); document.write( "log of base=lne=1
\n" ); document.write( ".045t=ln4
\n" ); document.write( "t=ln4/.045
\n" ); document.write( "t=30.8
\n" ); document.write( "ans:
\n" ); document.write( "It would take about 40 years to quadruple in an account that pays 4.5% interest compounded continuously?
\n" ); document.write( "note: this would be true for any initial investment compounded continuously at 4.5% interest rate. \n" ); document.write( "
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