document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=344233>Question 344233</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Kurt invest $5,000 in an account with a 6.25% intreast rate a year. After how many years will his investment be $10,000?<BR>\n" );
document.write( "I really prefer a example and formula so I know how to do it myself instead of just a answer. Thanks. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #246285 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=246285\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Kurt invest $5,000 in an account with a 6.25% intreast rate a year. After how many years will his investment be $10,000?<BR>\n" );
document.write( "FV = PV*(1 + r)^n ... r = %interest/100, n = years, FV = Future Value, PV = present value<BR>\n" );
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document.write( "10000 = 5000*(1 + 0.0625)^n<BR>\n" );
document.write( "(1.0625)^n = 2<BR>\n" );
document.write( "n*log(1.0625) = log(2)<BR>\n" );
document.write( "n = log(2)/log(1.0625)<BR>\n" );
document.write( "n =~ 11.4 years<BR>\n" );
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document.write( "It's as good an example as any. </SPAN>\n" );
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