document.write( "Question 73827: Here is the second question can you help me again? A commonly asked question is, \"How long will it take to double money?\" At 10% interest rate and continous compounding, what is the answer? Round to the hundredth's place. \n" ); document.write( "
Algebra.Com's Answer #52836 by ankor@dixie-net.com(22740)\"\" \"About 
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Here is the second question can you help me again? A commonly asked question is, \"How long will it take to double money?\" At 10% interest rate and continous compounding, what is the answer? Round to the hundredth's place.
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\n" ); document.write( "The continuous interest equation:
\n" ); document.write( "P*e^(r*t) = A
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\n" ); document.write( "Make it easy, let P = 1, then A = 2, r = .1; find t
\n" ); document.write( "e^.1t = 2
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\n" ); document.write( "Find ln of both sides:
\n" ); document.write( ".1t = ln(2); (remember ln of e is 1)
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\n" ); document.write( ".1t = .6931472
\n" ); document.write( "t = .6931472/.1
\n" ); document.write( "t = 6.93 yrs
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\n" ); document.write( "Check using a calc:
\n" ); document.write( "e^(.1*6.93)
\n" ); document.write( "e^(.693) = 1.9997, slightly lower because we rounded it off.
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\n" ); document.write( "How about this? Did it make sense to you? \n" ); document.write( "
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