document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=999383>Question 999383</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take an investment of $7,000 to double if the investment earns interest at the rate of 7% compounded continuously? (Round your answer to two decimal places.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #617151 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=617151\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long will it take an investment of $7,000 to double if the investment earns interest at the rate of 7% compounded continuously? (Round your answer to two decimal places.)\r<BR>\n" );
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document.write( "compound interest formula for continuous compounding:A= Pe^rt, P=initial investment,r=interest  rate,A = amount after t-years<BR>\n" );
document.write( "A/P=2<BR>\n" );
document.write( "A/P=e^rt=2<BR>\n" );
document.write( "take log of both sides<BR>\n" );
document.write( "rtlne=ln2<BR>\n" );
document.write( "rt=ln2<BR>\n" );
document.write( "t=ln2/.07=9.9.90 yrs<BR>\n" );
document.write( "How long will it take an investment of $7,000 to double?  9.90 yrs\r<BR>\n" );
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document.write( " </SPAN>\n" );
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