document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1198965>Question 1198965</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Gina puts $6500 into an account earning 7.75% interest compounded continuously. How long will<BR>\n" );
document.write( "It take for the amount in the account to grow to $7900? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #832904 by </B><A HREF=/tutors/aboutme.mpl?userid=htmentor><B>htmentor(1343)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=htmentor><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=htmentor><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=832904\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The formula for continuous compound interest is:<BR>\n" );
document.write( "P(t) = P0*exp(rt), where P0 is the initial principal, r is the interest rate,<BR>\n" );
document.write( "and t is the time.<BR>\n" );
document.write( "In this case, P0 = 6500 and r = 0.0775.<BR>\n" );
document.write( "P(t) = 6500*exp(0.0775*t) = 7900<BR>\n" );
document.write( "7900/6500 = exp(0.0775t)<BR>\n" );
document.write( "Take the natural log of both sides:<BR>\n" );
document.write( "ln(7900/6500) = 0.0775t -> t = ln(7900/6500)/0.0775 -> t = 2.52 years </SPAN>\n" );
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