document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=339387>Question 339387</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You deposit $1230 into a savings account earning 6.5% interest, compounded semi-annually.  How many periods does it take to accumulate amount of $3,109.69 in the account? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #243212 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=243212\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You deposit $1230 into a savings account earning 6.5% interest, compounded semi-annually. How many periods does it take to accumulate amount of $3,109.69 in the account?<BR>\n" );
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document.write( "A(t) = Ao(1+(r/n))^(nt)<BR>\n" );
document.write( "3109.69 = 1230(1+(0.065/2))^(2t)<BR>\n" );
document.write( "----<BR>\n" );
document.write( "2.5282 = 1.0325^(2t)<BR>\n" );
document.write( "---<BR>\n" );
document.write( "(2t)log(1.0325) = log(2.5282)<BR>\n" );
document.write( "2t = 29<BR>\n" );
document.write( "---<BR>\n" );
document.write( "t = 14.5 years<BR>\n" );
document.write( "=====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );