document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=372469>Question 372469</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how long will it take $500 to double it it is invested at 12% compounded quarterly? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #265284 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=265284\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> \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%28n%2At%29 ALIGN=MIDDLE  ALT=\"A=P%281%2Br%2Fn%29%5E%28n%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Start with the compound interest formula\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1000=500%281%2B0.12%2F4%29%5E%284%2At%29 ALIGN=MIDDLE  ALT=\"1000=500%281%2B0.12%2F4%29%5E%284%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Plug in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=1000 ALIGN=MIDDLE  ALT=\"A=1000\"   DISABLED_style= \"max-width:90%; height:auto;\" > (double the initial investment of $500), <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=500 ALIGN=MIDDLE  ALT=\"P=500\"   DISABLED_style= \"max-width:90%; height:auto;\" >, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.12 ALIGN=MIDDLE  ALT=\"r=0.12\"   DISABLED_style= \"max-width:90%; height:auto;\" > (the decimal equivalent of 12%), and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=4 ALIGN=MIDDLE  ALT=\"n=4\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1000=500%281%2B0.03%29%5E%284%2At%29 ALIGN=MIDDLE  ALT=\"1000=500%281%2B0.03%29%5E%284%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Evaluate <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.12%2F4 ALIGN=MIDDLE  ALT=\"0.12%2F4\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.03 ALIGN=MIDDLE  ALT=\"0.03\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1000=500%281.03%29%5E%284%2At%29 ALIGN=MIDDLE  ALT=\"1000=500%281.03%29%5E%284%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Add <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1 ALIGN=MIDDLE  ALT=\"1\"   DISABLED_style= \"max-width:90%; height:auto;\" > to <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.03 ALIGN=MIDDLE  ALT=\"0.03\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.03 ALIGN=MIDDLE  ALT=\"1.03\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1000%2F500=%281.03%29%5E%284%2At%29 ALIGN=MIDDLE  ALT=\"1000%2F500=%281.03%29%5E%284%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide both sides by <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=500 ALIGN=MIDDLE  ALT=\"500\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2=%281.03%29%5E%284%2At%29 ALIGN=MIDDLE  ALT=\"2=%281.03%29%5E%284%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Evaluate <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1000%2F500 ALIGN=MIDDLE  ALT=\"1000%2F500\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2 ALIGN=MIDDLE  ALT=\"2\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=ln%282%29=ln%28%281.03%29%5E%284%2At%29%29 ALIGN=MIDDLE  ALT=\"ln%282%29=ln%28%281.03%29%5E%284%2At%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Take the natural log of both sides.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=ln%282%29=4%2At%2Aln%281.03%29 ALIGN=MIDDLE  ALT=\"ln%282%29=4%2At%2Aln%281.03%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Pull down the exponent using the identity  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%28b%2C%28x%5Ey%29%29=y%2Alog%28b%2C%28x%29%29 ALIGN=MIDDLE  ALT=\"log%28b%2C%28x%5Ey%29%29=y%2Alog%28b%2C%28x%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=ln%282%29%2Fln%281.03%29=4%2At ALIGN=MIDDLE  ALT=\"ln%282%29%2Fln%281.03%29=4%2At\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide both sides by <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=ln%281.03%29 ALIGN=MIDDLE  ALT=\"ln%281.03%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.693147180559945%2Fln%281.03%29=4%2At ALIGN=MIDDLE  ALT=\"0.693147180559945%2Fln%281.03%29=4%2At\"   DISABLED_style= \"max-width:90%; height:auto;\" > Evaluate the natural log of <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2 ALIGN=MIDDLE  ALT=\"2\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.693147180559945 ALIGN=MIDDLE  ALT=\"0.693147180559945\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.693147180559945%2F0.0295588022415444=4%2At ALIGN=MIDDLE  ALT=\"0.693147180559945%2F0.0295588022415444=4%2At\"   DISABLED_style= \"max-width:90%; height:auto;\" > Evaluate the natural log of <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.03 ALIGN=MIDDLE  ALT=\"1.03\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.0295588022415444 ALIGN=MIDDLE  ALT=\"0.0295588022415444\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=23.4497722504377=4%2At ALIGN=MIDDLE  ALT=\"23.4497722504377=4%2At\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=23.4497722504377%2F4=t ALIGN=MIDDLE  ALT=\"23.4497722504377%2F4=t\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide both sides by 4 to isolate \"t\".\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5.86244306260943=t ALIGN=MIDDLE  ALT=\"5.86244306260943=t\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t=5.86244306260943 ALIGN=MIDDLE  ALT=\"t=5.86244306260943\"   DISABLED_style= \"max-width:90%; height:auto;\" > Rearrange the equation.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t=6 ALIGN=MIDDLE  ALT=\"t=6\"   DISABLED_style= \"max-width:90%; height:auto;\" > Round to the nearest whole number (ie to the nearest whole year).\r<BR>\n" );
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document.write( "So it will take about 6 years for the investment to double.\r<BR>\n" );
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document.write( "If you need more help, email me at <a  rel=nofollow HREF=\"mailto:jim_thompson5910@hotmail.com?Subject=Algebra%20Help\">jim_thompson5910@hotmail.com</a>\r<BR>\n" );
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document.write( "Also, feel free to check out my <a  rel=nofollow HREF=\"http://www.freewebs.com/jimthompson5910/home.html\">tutoring website</a>\r<BR>\n" );
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document.write( "Jim </SPAN>\n" );
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