document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1088803>Question 1088803</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the time it takes for $9,800 to double when invested at an annual interest rate of 10%, compounded continuously. Round your answer to 4 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 #703157 by </B><A HREF=/tutors/aboutme.mpl?userid=mathmate><B>mathmate(429)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mathmate><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/cgi-bin/show-face.mpl?user=mathmate><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=703157\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Question:<BR>\n" );
document.write( "Find the time it takes for $9,800 to double when invested at an annual interest rate of 10%, compounded continuously. Round your answer to 4 decimal places.<BR>\n" );
document.write( " <BR>\n" );
document.write( "Solution:<BR>\n" );
document.write( "Future value for continuous interest rate<BR>\n" );
document.write( "F=Pe^(rt)<BR>\n" );
document.write( "or<BR>\n" );
document.write( "F/P=2=e^(rt)<BR>\n" );
document.write( "Take natural log<BR>\n" );
document.write( "log(2)=rt<BR>\n" );
document.write( "t=log(2)/r=log(2)/0.1=6.931 years. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );