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 ...
 Math  A savings account with a current balance of $5,000 earns 2.75% annual ...
 Math  A savings account with a current balance of $5,000 earns 2.75% annual ...
 PRECALC  If you put $2,000 in a savings account that pays 6% interest ...
 math  Jacob Fonda deposited $25,000 in a savings account at 10% interest ...
 Business Math  Shelley Katz deposited $30,000 in a savings account at 5% ...
 math  Jacob Fonda deposited $25,000 in a savings account at 10% 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...
More Related Questions