College Algebra: Can anyone help me??
If $2500 is invested in the account that pays interest compounded continuously at a rate of 4%, how long will it take to double the investment?
--Formula: A=Pe^rt
--Answer should be 17.3 years
--HOW do I get the answer 17.3? Can someone show me?

Question

College Algebra: Can anyone help me??
If $2500 is invested in the account that pays interest compounded continuously at a rate of 4%, how long will it take to double the investment?
--Formula: A=Pe^rt
--Answer should be 17.3 years
--HOW do I get the answer 17.3? Can someone show me?

cj49 · Answer

http://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.573760.html

danjs · Answer

P=2500
r=0.04
A = 2*2500 = 5000

danjs · Answer

solve for the only thing left, time t

anonymous · Answer

Oh my dear lord, thank you so much!!! I been trying to solve this problem for over 30 minutes now. Thank you thank you thank you!!! :)

danjs · Answer

you get it?

anonymous · Answer

Yessss I do!! :)

danjs · Answer

2 = e^(0.04t)

danjs · Answer

cool

anonymous · Answer

Yes I solved it

anonymous · Answer

Thank you so so so very much!! :)