document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1120705>Question 1120705</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose that &#8203;$10,095 is invested at an interest rate of 6.2&#8203;% per&#8203; year, compounded continuously.<BR>\n" );
document.write( "&#8203;a) Find the exponential function that describes the amount in the account after time&#8203; t, in years.<BR>\n" );
document.write( "&#8203;b) What is the balance after 1&#8203; year? 2&#8203; years? 5&#8203; years? 10&#8203; years?<BR>\n" );
document.write( "&#8203;c) What is the doubling&#8203; time?\r<BR>\n" );
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document.write( "I don't know how to set up the formula. Once the formula is set up I know that I substitute the number into t. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #736392 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=736392\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose that &#8203;$10,095 is invested at an interest rate of 6.2&#8203;% per&#8203; year, compounded continuously.<BR>\n" );
document.write( "&#8203;a) Find the exponential function that describes the amount in the account after time&#8203; t, in years.<BR>\n" );
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document.write( "V(t) = P*e^t<BR>\n" );
document.write( "P = 10,095, e = 2.718281828459045....<BR>\n" );
document.write( "&#8203;b) What is the balance after 1&#8203; year? 2&#8203; years? 5&#8203; years? 10&#8203; years?<BR>\n" );
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document.write( "&#8203;c) What is the doubling&#8203; time?<BR>\n" );
document.write( "Solve e^t = 2<BR>\n" );
document.write( "t = ln(2)/ln(e) = ln(2) = 0.693 yrs<BR>\n" );
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document.write( "I don't know how to set up the formula. Once the formula is set up I know that I substitute the number into t.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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