document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=140557>Question 140557</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am trying to figure out the equation for the following: \r<BR>\n" );
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document.write( "I put $1000 into a savings account which has a compounded interest of 5% annually.  How long will it take to earn approximately $100 in interest? \r<BR>\n" );
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document.write( "This is what I came up with, but I don't know if it is correct. \r<BR>\n" );
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document.write( "1100=1000(1.05)^r<BR>\n" );
document.write( "1.1=(1.05)^r<BR>\n" );
document.write( "log(1.1)=log(1.05)^r<BR>\n" );
document.write( "log(1.1)=tlog(1.05)\r<BR>\n" );
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document.write( "t=log(1.1)/log(1.05)=0.0413926852/0.0211892991=1.95347118395 \r<BR>\n" );
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document.write( "Is this correct?  Would it take approximately 19.5 years to earn $100 in interest?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #102321 by </B><A HREF=/tutors/aboutme.mpl?userid=oscargut><B>oscargut(2103)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=oscargut><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=oscargut><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=102321\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> is all right but the answer is 1,95 years aprox (not 19,5) </SPAN>\n" );
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