document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=301425>Question 301425</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long does it take $1,150 to double if it is invested at 9% interest compounded monthly? Round your answer to the nearest tenth. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #216150 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=216150\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">     How long does it take $1,150 to double if it is invested at 9% interest compounded monthly? Round your answer to the nearest tenth.<BR>\n" );
document.write( ".<BR>\n" );
document.write( "Compound interest formula:<BR>\n" );
document.write( "Regular Compound Interest Formula\r<BR>\n" );
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document.write( "<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;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "P = principal amount (the initial amount you borrow or deposit)<BR>\n" );
document.write( "r  = annual rate of interest (as a decimal)<BR>\n" );
document.write( "t  = number of years the amount is deposited or borrowed for.<BR>\n" );
document.write( "A = amount of money accumulated after n years, including interest.<BR>\n" );
document.write( "n  =  number of times the interest is compounded per year  <BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2%281150%29+=+1150%281%2B.09%2F12%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"2%281150%29+=+1150%281%2B.09%2F12%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2+=+%281%2B.09%2F12%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"2+=+%281%2B.09%2F12%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2+=+%281.0075%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"2+=+%281.0075%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%281.0075%2C2%29+=+12t+ ALIGN=MIDDLE  ALT=\"log%281.0075%2C2%29+=+12t+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%282%29%2Flog%281.0075%29+=+12t+ ALIGN=MIDDLE  ALT=\"log%282%29%2Flog%281.0075%29+=+12t+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%28log%282%29%2Flog%281.0075%29%29%2F12+=+t+ ALIGN=MIDDLE  ALT=\"%28log%282%29%2Flog%281.0075%29%29%2F12+=+t+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "7.7 years = t<BR>\n" );
document.write( " </SPAN>\n" );
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