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Algebra

posted by on .

I have no idea how to even begin writing this out. I need help desperately.

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 - ,

    A = 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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