document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=353679>Question 353679</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A GIC pays 6 % per annum. How long would it take $3000 to grow to $6000? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #252802 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=252802\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A GIC pays 6 % per annum simple interest. <BR>\n" );
document.write( "How long would it take $3000 to grow to $6000?<BR>\n" );
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document.write( "A(t) = P(1+rt)<BR>\n" );
document.write( "6000 = 3000(1+0.06t)<BR>\n" );
document.write( "2 = 1+0.06t<BR>\n" );
document.write( "1 = 0.06t<BR>\n" );
document.write( "t = 1/0.06<BR>\n" );
document.write( "t = 16 2/3 years<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );