document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=202127>Question 202127</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Use the compound interest formula A=P(1+r/n)^nt to find approximately how many years an investment of $14,000 will accumulate to $42,000 if it earns 8% compounded quarterly.   thanks. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #152435 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=152435\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Use the compound interest formula A=P(1+r/n)^nt to find approximately how many years an investment of $14,000 will accumulate to $42,000 if it earns 8% compounded quarterly. thanks<BR>\n" );
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document.write( "A(t) = P(1+ (r/n))^(nt)<BR>\n" );
document.write( "42000 = 14000(1 + (0.08/4))^(4t)<BR>\n" );
document.write( "3 = 1.02^(4t)<BR>\n" );
document.write( "4tlog(1.02) = log3<BR>\n" );
document.write( "4t = 55.478...<BR>\n" );
document.write( "t = 13.87 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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