document.write( "Question 956874: if $8000 is invested in a 2.5% account for 10 years compounded continuously how long would it take for the account to double? \n" ); document.write( "
Algebra.Com's Answer #854586 by ikleyn(53937)\"\" \"About 
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\n" ); document.write( "if $8000 is invested in a 2.5% account for 10 years compounded continuously
\n" ); document.write( "how long would it take for the account to double?
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\n" ); document.write( "\n" ); document.write( "In his post, @lwsshak3 gives the answer \"28 years\".\r
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\n" ); document.write( "\n" ); document.write( "His calculation formula t = \"ln%282%29%2F0.025\" is correct, and the value which this formula produces is 27.72588722.\r
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\n" ); document.write( "\n" ); document.write( "So the expected answer is 27.726 years, or 28 years and 265 days, approximately.\r
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\n" ); document.write( "\n" ); document.write( "It is the expected answer <<<--->>> not 28 years, as it is given in the post by @lwsshar3.
\n" ); document.write( "In this problem, we should not round to the closest greater year, because compounding is continuous.\r
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\n" ); document.write( "\n" ); document.write( "In such problems, it is important to give adequate answers in accordance with the common sense
\n" ); document.write( "to demonstrate to the teacher and to all around that you correctly understand the problem.\r
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\n" ); document.write( "\n" ); document.write( "(In simple terms - to demonstrate that you are not an idiot).\r
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