Algebra

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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 -

    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 -

    Which symbol correctly compares these fractions?


    13 7
    ___ __
    20 10
    __

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