document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=391502>Question 391502</A>: <I><SPAN STYLE=\"word-break: break-all;\"> you deposit $2000 in an account that pays 4.5 % interest compounded annually. Write a model giving the account balance A after T years. In about how many years will the balance double? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #277762 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=277762\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You deposit $2000 in an account that pays 4.5 % interest compounded annually. Write a model giving the account balance A after T years.<BR>\n" );
document.write( "A(t) = 2000(1+(0.045))^(t)<BR>\n" );
document.write( "----------------------------------<BR>\n" );
document.write( "In about how many years will the balance double?<BR>\n" );
document.write( "4000 = 2000(1.045)^t<BR>\n" );
document.write( "2 = 1.045^t<BR>\n" );
document.write( "---<BR>\n" );
document.write( "t*log(1.045) = log(2)<BR>\n" );
document.write( "---<BR>\n" );
document.write( "t = log(2)/log(1.045) <BR>\n" );
document.write( "---<BR>\n" );
document.write( "t = 15.75 years<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "===============<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );