document.write( "Question 1135491: Suppose you decide to invest in an account that earns 2.81% interest compounded continuously. When would the value of the account double? Round your answer to two decimal places. \n" ); document.write( "

Algebra.Com's Answer #753120 by ikleyn(52909) $\"\"$ $\"About$

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document.write( "The problem asks you to find the time \" t \" from this equation\r\n" );
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document.write( "     = 2A.\r\n" );
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document.write( "Cancel the factor A in both sides and take the natural logarithm of both sides.\r\n" );
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document.write( "You will get\r\n" );
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document.write( "    0.0281*t = ln(2).\r\n" );
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document.write( "So, the answer is  t =  = 24.67 years, or about 24 years and 8 months.\r\n" );
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