document.write( "Question 932265: If $1000 is invested in an account paying 12% annually compounded continously, how long will it take to double the investment? \n" ); document.write( "

Algebra.Com's Answer #568979 by tommyt3rd(5050) $\"\"$ $\"About$

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For continuous compounding we use:\r
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\n" ); document.write( "\n" ); document.write( " $\"F=P%2Ae%5E%28r%2At%29\"$ \r
\n" ); document.write( "\n" ); document.write( "so we can write:\r
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\n" ); document.write( "\n" ); document.write( " $\"2=e%5E%280.12%2At%29\"$ \r
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\n" ); document.write( "\n" ); document.write( "taking the natural log of both sides leads to\r
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\n" ); document.write( "\n" ); document.write( " $\"ln%282%29=0.12%2At\"$ \r
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\n" ); document.write( "\n" ); document.write( "so time is about 5.78 years \n" ); document.write( "

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