document.write( "Question 93112This question is from textbook Algebra and Trigonometry
\n" ); document.write( ": The amount A in an account after t years from an initial pricnciple P invested at an annual rate r compounded continuosly is given by A=Pert where r is expressed as a decimal. How many years will it take an initial investment of $1,000 to grow to $1,700 at the rate of 4.42% compounded continously? \n" ); document.write( "

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The amount A in an account after t years from an initial pricnciple P invested at an annual rate r compounded continuosly is given by A=Pe^(rt) where r is expressed as a decimal. How many years will it take an initial investment of $1,000 to grow to $1,700 at the rate of 4.42% compounded continously?
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\n" ); document.write( "1700 = 1000e^(0.0442t)
\n" ); document.write( "1.7 = e^(0.0442t)
\n" ); document.write( "Take the natural log of both sides to get:
\n" ); document.write( "ln(1.7) = 0.0442t
\n" ); document.write( "t = 12.005 years
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
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