document.write( "Question 1183369: You deposit $8,329 in an account that pays 2.12% interest, compounded continuously. How long will it take for the money to triple? \n" ); document.write( "
Algebra.Com's Answer #813653 by ikleyn(52782)\"\" \"About 
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\n" ); document.write( "You deposit $8,329 in an account that pays 2.12% interest, compounded continuously. How long will it take for the money to triple?
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document.write( "Use the basic formula for accounts compounded continuously\r\n" );
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document.write( "    3*8329 = \"8329%2Ae%5E%280.0212%2At%29\".\r\n" );
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document.write( "In this equation t is the unknown time in years.\r\n" );
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document.write( "    \"3%2A8329%2F8329\" = \"e%5E%280.0212%2At%29\"\r\n" );
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document.write( "    3 = \"e%5E%280.0212%2At%29\"\r\n" );
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document.write( "Take the natural logarithm of both sides\r\n" );
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document.write( "    ln(3) = 0.0212*t\r\n" );
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document.write( "    t = \"ln%283%29%2F0.0212\" = 51.821.\r\n" );
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document.write( "ANSWER.  In 51.821 years.  Or 51 years and 300 days  (51 years and 10 months).\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar solved problems, look into the lesson\r
\n" ); document.write( "\n" ); document.write( "    - Problems on continuously compounded accounts \r
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\n" ); document.write( "\n" ); document.write( "After reading this lesson, you will tackle such problems on your own without asking for help from outside.\r
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\n" ); document.write( "\n" ); document.write( "Also,  you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( "    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
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\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic \"Logarithms\".\r
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\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
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\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
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\n" ); document.write( "\n" ); document.write( "Happy learning (!)\r
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