document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=63245>Question 63245</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take $500 to grow to $2,000 at an interest rate of 4% 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 #44052 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=44052\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long will it take $500 to grow to $2,000 at an interest rate of 4% if the interest is compounded continuously?<BR>\n" );
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document.write( "Formula: A=Pe^(rt)<BR>\n" );
document.write( "2000=500e^(0.04t)<BR>\n" );
document.write( "4=e^(0.04t)<BR>\n" );
document.write( "Take the natural log of both sides to get:<BR>\n" );
document.write( "ln4 = 0.04t<BR>\n" );
document.write( "t=[ln4]/0.04<BR>\n" );
document.write( "t=34.66 years.<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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