document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=378198>Question 378198</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose $200 was invested at 9% per annum compounded annually. How many years will it take for the investment to grow to $500? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #268769 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=268769\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose $200 was invested at 9% per annum compounded annually. How many years will it take for the investment to grow to $500?<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
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document.write( "500 = 200(1+(0.09/1))^(1*t)<BR>\n" );
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document.write( "2.5 = 1.09^t<BR>\n" );
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document.write( "t*log1.09 = log2.5<BR>\n" );
document.write( "t = [log(2.5)]/[log(1.09)] <BR>\n" );
document.write( "t = 10.63 years<BR>\n" );
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document.write( "Rounding up time = 11 years.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );