document.write( "Question 1140848: Please explain:
\n" ); document.write( "Suppose $2800 is invested in an account at an annual interest rate of 3.7% compounded continuously. How long (to the nearest tenth of a year) will it take to double in size?
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Algebra.Com's Answer #761350 by ikleyn(52776) $\"\"$ $\"About$

You can put this solution on YOUR website!
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document.write( "They want you solve this equation\r\n" );
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document.write( "    2*2800 = ,\r\n" );
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document.write( "where t is the time (in years).\r\n" );
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document.write( "It is direct translation of the text formulation to Math.\r\n" );
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document.write( "To solve this equation and find \"t\", first divide both sides by  2800. You will get\r\n" );
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document.write( "    2 = .\r\n" );
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document.write( "Take the natural logarithm of both sides. You will get\r\n" );
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document.write( "    ln(2) = 0.037*t,\r\n" );
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document.write( "    t =  = 18.73.\r\n" );
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document.write( "ANSWER.  18.73 years are needed.  It is about 18 years and 9 months.\r\n" );
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document.write( "         19 years is enough.\r\n" );
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