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 #29938 by </B><A HREF=/tutors/aboutme.mpl?userid=venugopalramana><B>venugopalramana(3286)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=venugopalramana><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.geocities.com/venugopalramana/FREE_MATHS_ASSISTANCE.html valign=middle><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=29938\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Exponential and Logarithmic Functions.<BR>\n" );
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?<BR>\n" );
document.write( "A=P(1+R/100)^N<BR>\n" );
document.write( "800=500*(1+8.5/100)^N<BR>\n" );
document.write( "(1.085)^N=800/500=1.6<BR>\n" );
document.write( "NLOG(1.085)=LOG(1.6)<BR>\n" );
document.write( "N=LOG(1.6)/LOG(1.085)=0.2041/0.0354=5.76 YRS...ROUNDED ...6 YEARS </SPAN>\n" );
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