document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=129925>Question 129925</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I need help with this question\r<BR>\n" );
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document.write( "If 500 is deposited in an account paying 8.5% annual interest, compounded continuously, how long will it take for the account to increase to $800? calculate your answere to three decimal places before rounding to two. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #94880 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=94880\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If 500 is deposited in an account paying 8.5% annual interest, compounded continuously, how long will it take for the account to increase to $800? calculate your answere to three decimal places before rounding to two.<BR>\n" );
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document.write( "A(t) = A(o)e^(rt)<BR>\n" );
document.write( "800 = 500*e^(0.085t)<BR>\n" );
document.write( "e^(0.085t) = 8/5<BR>\n" );
document.write( "Take the natural log of both sides to get:<BR>\n" );
document.write( "0.085t = 0.47<BR>\n" );
document.write( "t = 0.47/0.85<BR>\n" );
document.write( "t = 5.53 years. (rounded to two decimal places)<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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