document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=619558>Question 619558</A>: <I><SPAN STYLE=\"word-break: break-all;\"> at what rate to the nearest hundreth of a percent, would you need to invest 13,000 compounded continuously to reach 21,000 in 7 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #389691 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=389691\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> at what rate to the nearest hundreth of a percent, would you need to invest 13,000 compounded continuously to reach 21,000 in 7 years?<BR>\n" );
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document.write( "A(t) = P*e^(rt)<BR>\n" );
document.write( "21000 = 13000*e^(7r)<BR>\n" );
document.write( "---<BR>\n" );
document.write( "e^(7r) = 21/13<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Take the natural log of both sides to get:<BR>\n" );
document.write( "7r = ln(21/13)<BR>\n" );
document.write( "7r = 0.4796<BR>\n" );
document.write( "rate = 0.0685 = 6.85%<BR>\n" );
document.write( "==========================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );