document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1025841>Question 1025841</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am stuck at this question, please help me.<BR>\n" );
document.write( "How long will it take an investment of $5,000 to double if the investment earns interest at the rate of 8% 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 #641142 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=641142\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long will it take an investment of $5,000 to double if the investment earns interest at the rate of 8% compounded continuously? Round your answer to two decimal places. <BR>\n" );
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document.write( "A(t) = P*e^(rt)<BR>\n" );
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document.write( "2P = P*e^(0.08*t)<BR>\n" );
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document.write( "e^(0.08t) = 2<BR>\n" );
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document.write( "0.08t = ln(2)<BR>\n" );
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document.write( "t = ln(2)/0.08 = 8.66 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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document.write( " </SPAN>\n" );
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