# Algebra

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You put \$1700 into an account at 8% per year compounded continuously.
a) How long will it be until you have \$2000?
b) What is the doubling time for this money?

• Algebra -

P = Po*e^rt.

a. rt = 0.08t

P = 1700*e^0.08t = \$2000
e^0.08t = 2000/1700 = 1.176
0.08t*Lne = Ln1.176
0.08t*1 = 0.1625
t = 2.03 Years.

b. P = 1700*e^0.08t = 3400
Solve for t.

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