document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=428540>Question 428540</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You make a deposit of 2000 € into your account. The interest rate is 5% and the interest is added into the account first after one year and then annually. How long will it take your savings to grow to 10000 €? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #297835 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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/cgi-bin/show-face.mpl?user=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=297835\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal P =	2000							<BR>\n" );
document.write( "Amount=	10000							<BR>\n" );
document.write( "years=n								<BR>\n" );
document.write( "compounded	1							<BR>\n" );
document.write( "								<BR>\n" );
document.write( "Amount =	P*((n+r)/n)^n							<BR>\n" );
document.write( "								<BR>\n" );
document.write( "10000	=	2000	*(	1	+	0.05	)^	n<BR>\n" );
document.write( "5	=	*(	1	+	0.05	)^	n	<BR>\n" );
document.write( "ln	5	=	n	ln	1.05			<BR>\n" );
document.write( "	1.61	=	n	0.05				<BR>\n" );
document.write( "	32.99	=	n					<BR>\n" );
document.write( "								<BR>\n" );
document.write( "Say 33 years<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );