document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=45116>Question 45116</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0534493947/algebrahomeworkh>INTERMEDIATE ALGEBRA</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> Exponential and Logarithmic Functions.\r<BR>\n" );
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document.write( "Compound Interest.  If $500 is deposited in an account paying 8.5% annual interest, compounded semiannually, how long will it take for ethe account to increase to $800? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #29927 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=29927\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Compound( Interest.  If $500 is deposited in an account paying 8.5% annual interest, compounded semiannually, how long will it take for ethe account to increase to $800?\r<BR>\n" );
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document.write( "A=S(1+r/n)^(nt)<BR>\n" );
document.write( "800=500(1+0.085/2)^(2t)<BR>\n" );
document.write( "1.6=(1+0.0425)^2t<BR>\n" );
document.write( "log1.6=(2t)log1.0425<BR>\n" );
document.write( "2t=log1.6/log1.0425<BR>\n" );
document.write( "2t=11.29..<BR>\n" );
document.write( "t=5.646... yrs<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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