document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1139827>Question 1139827</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take for $2,800 to double if it is invested at 12% annual interest compounded 6 times a year? Enter in exact calculations or round to 3 decimal places.<BR>\n" );
document.write( "a. How long will it take if the interest is 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 #760440 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=760440\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The first is 2800(1+(0.12/6))^6n=5600<BR>\n" );
document.write( "or 2=1.02^6n<BR>\n" );
document.write( "ln2=6n*ln(1.02)<BR>\n" );
document.write( "6n=35.002<BR>\n" );
document.write( "n=5.834 years\r<BR>\n" );
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document.write( "rule of 72 would say 6 years so reasonable result.\r<BR>\n" );
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document.write( "continuously is 2=e^rt, where P=Poe^rt, and P=2Po<BR>\n" );
document.write( "so ln2=rt<BR>\n" );
document.write( "ln2/0.12=t<BR>\n" );
document.write( "t=5.776 years. </SPAN>\n" );
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