document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=273661>Question 273661</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how many years will it take $2000 invested at 6% to earn $360? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #199923 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=199923\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> future value is 2000 + 360 = 2360\r<BR>\n" );
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document.write( "equation is 2000 * 1.06^x = 2360\r<BR>\n" );
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document.write( "divide both sides of this equation by 2000 to get:\r<BR>\n" );
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document.write( "1.06^x = 2360/2000 = 1.18\r<BR>\n" );
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document.write( "take the log of both sides of this equation to get:\r<BR>\n" );
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document.write( "log(1.06^x) = log(1.18)\r<BR>\n" );
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document.write( "log(1.06^x) = x * log(1.06) so your equation becomes\r<BR>\n" );
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document.write( "x*log(1.06) = log(1.18)\r<BR>\n" );
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document.write( "divide both sides of this equation by log(1.06) to get:\r<BR>\n" );
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document.write( "x = log(1.18)/log(1.06)\r<BR>\n" );
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document.write( "use you calculator to solve for x to get:\r<BR>\n" );
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document.write( "x  = 2.840527544\r<BR>\n" );
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document.write( "plug this value into your equation of:\r<BR>\n" );
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document.write( "2000 * 1.06^x = 2360 to get:\r<BR>\n" );
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document.write( "2000 * 1.06^(2.840527544) = 2360\r<BR>\n" );
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document.write( "use your calculator to solve to get:\r<BR>\n" );
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document.write( "2360 = 2360 confirming the value for x is good.\r<BR>\n" );
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document.write( "answer to your question is it will take 2.840527544 years for 2000 to earn 360.\r<BR>\n" );
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document.write( "this assumes annual compounding.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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