document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=146460>Question 146460</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am hoping that someone can just give me the formula for figuring out a word problem involving compound interest. Orig invest $100. 7% annually. How long to earn $600. I can find examples everywhere for simple interest but can't find anything in 2 separate texts about compound interest. HELP!!! Thanks </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #106914 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=106914\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> When you need something like this use Google.<BR>\n" );
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document.write( "just give me the formula for figuring out a word problem involving compound interest. Orig invest $100. 7% annually. How long to earn $600.<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
document.write( "600 = 100(1+(0.07/1)^(1*t)<BR>\n" );
document.write( "6 = (1.07)^t<BR>\n" );
document.write( "tlog(1.07) = log6<BR>\n" );
document.write( "t = [log6]/[log(1.07)]<BR>\n" );
document.write( "t = 26.48 years<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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