document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1094073>Question 1094073</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long does it take an investment of R10 000 to double if it is invested at 8%, compounded continuously? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #708722 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><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=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=708722\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Continuous compounding is calculated by P_1=P_0*e^rt, where P_1 is the expected amount, P_0 is the beginning amount, r is the interest, and t is time. So:<BR>\n" );
document.write( "20000=10000*e^0.08t<BR>\n" );
document.write( "e^0.08t=2<BR>\n" );
document.write( "ln e^0.08t=ln 2<BR>\n" );
document.write( "0.08t ln e=ln 2<BR>\n" );
document.write( "t=ln 2/0.08=8.664 years<BR>\n" );
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