document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=126368>Question 126368</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A woman deposits $50,000 in a savings account with 4% continuously compounded interest.  How many years must she wait until the balance has doubled? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #92578 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=92578\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A woman deposits $50,000 in a savings account with 4% continuously compounded interest.  How many years must she wait until the balance has doubled?<BR>\n" );
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document.write( "The time is the same for $1 as it is for $50,000.<BR>\n" );
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document.write( "2 = 1*e^(rt)<BR>\n" );
document.write( "2 = 1*e^(0.04t)<BR>\n" );
document.write( "Take the natural log of both sides to get:\r<BR>\n" );
document.write( "\n" );
document.write( "ln2 = 0.04t<BR>\n" );
document.write( "t = ln2 / 0.04<BR>\n" );
document.write( "t = 17.329 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );