Question

A woman deposits $50,000 in a savings account with 4% continuously compounded interest. How many years must she wait until the balance has doubled?

Answer 1

\[100000=50000e ^{.04t}\]

Answer 2

Solve for t

Answer 3

I dont know how?

Answer 4

Divide both sides by 50000

Answer 5

divide by 50000. Take the natural log of both sides. divide by.4

Answer 6

what do you get?

Answer 7

Oh. Ok smooth wants to help you now. good bye and good luck.

Answer 8

mr sassypants.

Answer 9

It's 17 years

Thanks Smooth

Answer 10

I'm new with the log shizz. jeeze

Answer 11

Haha it's tough to get. The most important thing to know is that e^x and ln(x) are inverse operations, the same way *2 and /2 are inverses and ^2 is the inverse of square root.

Answer 12

Thank you