document.write( "Question 405608: Chuck has $2,500 invested in a bank that pays 4% annually. How long will it take for his funds to double?
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Algebra.Com's Answer #286467 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi
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document.write( "A= p(1+r) ^t 
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document.write( "A/p = 2 = (1.04)^t  |money doubling
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document.write( "2 = (1.04)^t 
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document.write( "ln2 = ln(1.04)^t    |taking logarithm of each side of the equation
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document.write( "ln2 = t*ln(1.04)
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document.write( "ln2/ln(1.04) = t
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document.write( "  17.673 yr = t, the time to double \n" );
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