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August 28, 2014

August 28, 2014

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

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 7:36am12000 = 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 9:10amWhich symbol correctly compares these fractions?

13 7

___ __

20 10

__

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