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July 22, 2014

July 22, 2014

Posted by **Vilma** on Tuesday, June 26, 2012 at 12:30am.

A student deposits $6,000 in a savings account with x% continuously compounded interest. How many years must he wait until the balance has doubled?

- Algebra -
**Steve**, Tuesday, June 26, 2012 at 4:44amA = Pe^xt

where x is the rate and t is the # years.

When the amount has doubled, A=2P, so

2 = e^xt

ln2 = xt

t = ln2/x

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