document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=218358>Question 218358</A>: <I><SPAN STYLE=\"word-break: break-all;\"> $40 at 4% (compounded daily) how long will it take for me to have $50? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #164471 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=164471\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A(t) = Ao*(1+(r/n))^(nt)<BR>\n" );
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document.write( "$40 at 4% (compounded daily) how long will it take for me to have $50?<BR>\n" );
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document.write( "50 = 40(1+0.04/365)^(365t)<BR>\n" );
document.write( "1.25 = (1+0.04/365)^(365t)<BR>\n" );
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document.write( "365t*log(1+0.04/365) = log(1.25)<BR>\n" );
document.write( "365t = log(1.25)/log(1+(0.04/365))<BR>\n" );
document.write( "365t = 2036.3<BR>\n" );
document.write( "t = 5.58 days<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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