Posted by **Vilma** on Wednesday, June 27, 2012 at 2:36am.

I posted this question earlier incorrectly: I could still use some help figuring it out.

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

- Algebra -
**Reiny**, Wednesday, June 27, 2012 at 7:36am
12000 = 6000(e^(.06t) )

2 = e^(.06t)

take ln of both sides

ln2 = ln(e^(.06t))

ln2 = .06t (lne) , but lne = 1

.06t=ln2

t = ln2/.06

t = appr 11.55 years

- Algebra -
**shelby**, Wednesday, June 27, 2012 at 9:10am
Which symbol correctly compares these fractions?

13 7

___ __

20 10

__

## Answer this Question

## Related Questions

- Algebra - I have no idea how to even begin writing this out. I need help ...
- PRE-CALC - If you put $2,000 in a savings account that pays 6% interest ...
- Math - (a) Themba wants to deposit a sum of money into a savings account so that...
- Lat math question for some days. Can y'all help? - Huan deposited $850 into a ...
- Algebra ASAP - Suppose that $17,000 is invested in a savings account paying 5.1...
- Algebra - Calvin deposits $400 in a savings account that accrues 5% interest ...
- Algebra - Calvin deposits $400 in a savings account that accrues 5% interest ...
- Statistics - Mary has a savings account and is earning 10% annual interest ...
- Algebra - An account with $300 in it has been earning 3% annual interest ...
- math - Jacob Fonda deposited $25,000 in a savings account at 10% interest ...

More Related Questions