document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1030370>Question 1030370</A>: <I><SPAN STYLE=\"word-break: break-all;\"> suppose you inherit $30,000. You find an investment account that pays 6.3% interest compounded continuously. How long will you need to keep it in the account until you have $50,000?\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #645218 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=645218\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  suppose you inherit $30,000. You find an investment account that pays 6.3% interest compounded continuously. How long will you need to keep it in the account until you have $50,000? <BR>\n" );
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document.write( "A(t) = P*e^(rt)<BR>\n" );
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document.write( "50,000 = 30000*e^(0.063*t)<BR>\n" );
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document.write( "e^(0.063t) = 5/3<BR>\n" );
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document.write( "0.063t = ln(5/3)<BR>\n" );
document.write( "t = ln(5/3)/0.063<BR>\n" );
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document.write( "t = 8.1 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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