document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=33361>Question 33361</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An amount invested at 10% compounded semiannually will double in ten years.  I believe this problem is true.  Am I right? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #19831 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=19831\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=P(1+r/n)^(nt); This is the general compounding formula.<BR>\n" );
document.write( "If the investment amount(P) doubles, A will equal 2P<BR>\n" );
document.write( "2P=P(1+(0.10/2))^(02(t))<BR>\n" );
document.write( "2=(1.05)^(2t)<BR>\n" );
document.write( "Take the ln of both sides to get<BR>\n" );
document.write( "ln(2)=(2t)[ln(1.05)]<BR>\n" );
document.write( "2t=14.21<BR>\n" );
document.write( "t=7.105years<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );