document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=709472>Question 709472</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How many years will it take for an initial investment of 10,000 dollars to grow to 29,000 dollars? Assume a rate of interest of 6% 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 #436594 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=436594\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How many years will it take for an initial investment of 10,000 dollars to grow to 29,000 dollars? Assume a rate of interest of 6% compounded continuously.<BR>\n" );
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document.write( "A(t) = P*e^(rt)<BR>\n" );
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document.write( "29,000 = 10,000*e^(0.06t)<BR>\n" );
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document.write( "e^(0.06t) = 29<BR>\n" );
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document.write( "0.06t = ln(29)<BR>\n" );
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document.write( "t = 56 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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