Homework Help: Algebra

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

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 - Steve, Tuesday, June 26, 2012 at 4:44am
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

Answer this Question

Related Questions

Algebra - an algebra student won $115,000 in a lottery and wishing to deposit it...
Algebra - I posted this question earlier incorrectly: I could still use some ...
math - After looking at the results of her calculations, Naomi has decided to ...
business math - After looking at the results of her calculations, Naomi has ...
business math - After looking at the results of her calculations, Naomi has ...
math, algebra - can someone correct this for me. Problem: A student is nearing ...
writing process part 2 - i need help on writing an eight sentence paragraph. i ...
Finance - I have a case study to do and I'm not sure how to go about it. I ...
COM 155 - I have been asked to explain if it is a good idea to write a summary ...
Math - A new school has exactly 1,000 lockers and 1,000 students. the student ...

For Further Reading

First Name:
School Subject:
Answer: