document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1040497>Question 1040497</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose $7,100 is invested in an account at an annual interest rate of 3.4% compounded<BR>\n" );
document.write( "continuously. How long (to the nearest tenth of a year) will it take the investment to double in size? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #655371 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=655371\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose $7,100 is invested in an account at an annual interest rate of 3.4% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double in size?<BR>\n" );
document.write( "A(t) = P*e^(r*t)<BR>\n" );
document.write( "------<BR>\n" );
document.write( "Solve e^(r*t) = 2<BR>\n" );
document.write( "e^(0.034t) = 2<BR>\n" );
document.write( "0.034t = ln(2)<BR>\n" );
document.write( "t = ln(2)/(0.034)<BR>\n" );
document.write( "t = 20.4 years <BR>\n" );
document.write( "-----------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "--------------------  </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );