document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=956874>Question 956874</A>: <I><SPAN STYLE=\"word-break: break-all;\"> if $8000 is invested in a 2.5% account for 10 years compounded continuously how long would it take for the account to double? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #584611 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><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=584611\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> if $8000 is invested in a 2.5% account for 10 years compounded continuously how long would it take for the account to double?<BR>\n" );
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document.write( "Formula for continuous compounding: A=Pe^rt, P=initial investment, r=interest rate, A=amt after t-years.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=8000<BR>\n" );
document.write( "r=.025<BR>\n" );
document.write( "t=10 yrs<BR>\n" );
document.write( "A=8000e^(.025*10)<BR>\n" );
document.write( "A=8000e^(.25)<BR>\n" );
document.write( "A&#8776;10272<BR>\n" );
document.write( "Amount in account after 10 years&#8776;$10,272<BR>\n" );
document.write( "..<BR>\n" );
document.write( "doubling the acct:<BR>\n" );
document.write( "A/P=2=e^.025t<BR>\n" );
document.write( "take log of both sides<BR>\n" );
document.write( ".025t*lne=ln2<BR>\n" );
document.write( "lne=1<BR>\n" );
document.write( ".025t=ln2<BR>\n" );
document.write( "t=ln2/.025<BR>\n" );
document.write( "t&#8776;28 <BR>\n" );
document.write( "how long would it take for the account to double? 28 yrs<BR>\n" );
document.write( " </SPAN>\n" );
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