document.write( "Question 325021: determine how much time is required for an investement to double in value if interest is earned at the rate of 6.25 % compounded annually? \n" ); document.write( "
Algebra.Com's Answer #232750 by galactus(183)\"\" \"About 
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The formula for interest is \r
\n" ); document.write( "\n" ); document.write( "\"A=P%281%2Br%2Fn%29%5E%28nt%29\"\r
\n" ); document.write( "\n" ); document.write( "Since the problem asks for how long to double, then A=2P.\r
\n" ); document.write( "\n" ); document.write( "\"2P=P%281%2Br%2Fn%29%5E%28nt%29\"\r
\n" ); document.write( "\n" ); document.write( "r=.0625 and n=1\r
\n" ); document.write( "\n" ); document.write( "\"2=%281.0625%29%5Et\"\r
\n" ); document.write( "\n" ); document.write( "\"ln%282%29=t%2Aln%281.0625%29\"\r
\n" ); document.write( "\n" ); document.write( "\"t=ln%282%29%2Fln%281.0625%29=11.433\"\r
\n" ); document.write( "\n" ); document.write( "or about 11 years, 158 days
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