document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=150015>Question 150015</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take for an investment to double in value if it is invested at 5% per annum compounded monthly? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #110144 by </B><A HREF=/tutors/aboutme.mpl?userid=scott8148><B>scott8148(6628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=scott8148><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=scott8148><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=110144\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> let t=time in months __ a=2p (doubling) __ r=.05\r<BR>\n" );
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document.write( "a=p(1+(r/12))^t __ dividing by p __ 2=(1+(.05/12)^t __ taking log __ log(2)=t*log(1+(.05/12)\r<BR>\n" );
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document.write( "dividing by log(1+(.05/12) __ [log(2)]/[log(1+(.05/12)]=t\r<BR>\n" );
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document.write( "t=166.7 (approx) __ should be 167 to get final compounding </SPAN>\n" );
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