document.write( "Question 1205986: If 6000 dollars is invested in a bank account at an interest rate of 5 per cent per year compounded continuously. How many years will it take for your balance to reach 20000 dollars \n" ); document.write( "
Algebra.Com's Answer #843126 by math_tutor2020(3817)\"\" \"About 
You can put this solution on YOUR website!

\n" ); document.write( "\"A+=+P%2Ae%5E%28r%2At%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"20000+=+6000%2Ae%5E%280.05%2At%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"20000%2F6000+=+e%5E%280.05%2At%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"20%2F6+=+e%5E%280.05%2At%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"10%2F3+=+e%5E%280.05%2At%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"0.05t+=+ln%2810%2F3%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"0.05t+=+1.203973\" approximately\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"t+=+1.203973%2F0.05\" \r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"t+=+24.07946\" approximately\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "It takes about 24.079 years depending how you round the final answer.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Check:
\n" ); document.write( "\"A+=+P%2Ae%5E%28r%2At%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"A+=+6000%2Ae%5E%280.05%2A24.07946%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"A+=+20000.00391348\" approximately
\n" ); document.write( "This rounds to 20,000 when rounding to the nearest cent.
\n" ); document.write( "
\n" ); document.write( "
\n" );