document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=190666>Question 190666</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take for $7 000 to double if it is invested at 6.0% annual interest compounded 9 times a year? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #143146 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=143146\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=P%281%2Br%2Fn%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"A=P%281%2Br%2Fn%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Start with the compounding interest formula\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=14000=7000%281%2B0.06%2F9%29%5E%289t%29 ALIGN=MIDDLE  ALT=\"14000=7000%281%2B0.06%2F9%29%5E%289t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Plug in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=14000 ALIGN=MIDDLE  ALT=\"A=14000\"   DISABLED_style= \"max-width:90%; height:auto;\" > (this is double of 7000), <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=7000 ALIGN=MIDDLE  ALT=\"P=7000\"   DISABLED_style= \"max-width:90%; height:auto;\" >, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.06 ALIGN=MIDDLE  ALT=\"r=0.06\"   DISABLED_style= \"max-width:90%; height:auto;\" > and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=9 ALIGN=MIDDLE  ALT=\"n=9\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2=%281%2B0.06%2F9%29%5E%289t%29 ALIGN=MIDDLE  ALT=\"2=%281%2B0.06%2F9%29%5E%289t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide both sides by 7000.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2=%281%2B0.00667%29%5E%289t%29 ALIGN=MIDDLE  ALT=\"2=%281%2B0.00667%29%5E%289t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2=%281.00667%29%5E%289t%29 ALIGN=MIDDLE  ALT=\"2=%281.00667%29%5E%289t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Combine like terms.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%2810%2C%282%29%29=log%2810%2C%28%281.00667%29%5E%289t%29%29%29 ALIGN=MIDDLE  ALT=\"log%2810%2C%282%29%29=log%2810%2C%28%281.00667%29%5E%289t%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Take the log of both sides\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%2810%2C%282%29%29=9t%2Alog%2810%2C%281.00667%29%29 ALIGN=MIDDLE  ALT=\"log%2810%2C%282%29%29=9t%2Alog%2810%2C%281.00667%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Rewrite the right side using the identity  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%28b%2C%28x%5Ey%29%29=y%2Alog%28b%2C%28x%29%29 ALIGN=MIDDLE  ALT=\"log%28b%2C%28x%5Ey%29%29=y%2Alog%28b%2C%28x%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%2810%2C%282%29%29%2Flog%2810%2C%281.00667%29%29=9t ALIGN=MIDDLE  ALT=\"log%2810%2C%282%29%29%2Flog%2810%2C%281.00667%29%29=9t\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide both sides by <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%2810%2C%281.00667%29%29 ALIGN=MIDDLE  ALT=\"log%2810%2C%281.00667%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=104.266=9t ALIGN=MIDDLE  ALT=\"104.266=9t\"   DISABLED_style= \"max-width:90%; height:auto;\" > Approximate the left side\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=104.266%2F9=t ALIGN=MIDDLE  ALT=\"104.266%2F9=t\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide both sides by 9.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=11.585=t ALIGN=MIDDLE  ALT=\"11.585=t\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide\r<BR>\n" );
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document.write( "So the answer is approximately <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t=11.585 ALIGN=MIDDLE  ALT=\"t=11.585\"   DISABLED_style= \"max-width:90%; height:auto;\" > which means that it takes about 11.585 years for $7,000 to double </SPAN>\n" );
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