document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=465812>Question 465812</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If you have 5,000 invested in a bank that pays 5.2 percent annually. How long will it take for your funds to triple? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #319208 by </B><A HREF=/tutors/aboutme.mpl?userid=solver91311><B>solver91311(24713)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solver91311><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=solver91311><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=319208\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font face=\"Times New Roman\" size=\"+2\">\r<BR>\n" );
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document.write( "The formula for compound interest is:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ A\ =\ P\left(1\ +\ \frac{r}{n}\right)^{nt}\">\r<BR>\n" );
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document.write( "where <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large A\"> is the future value, <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large P\"> is the present value, <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large r\"> is the annual interest rate expressed as a decimal, <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large n\"> is the number of compounding periods per year, and <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large t\"> is the number of years.\r<BR>\n" );
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document.write( "In this case we really don't care what the present or future values are so long as the future value is three times the present value, so we can re-write the formula:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \left(1\ +\ \frac{r}{n}\right)^{nt}\ =\ \frac{A}{P}\ =\ 3\">\r<BR>\n" );
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document.write( "We are given both <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large r\ =\ 0.052\"> and <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large n\ =\ 1\">, so substitute the values:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \left(1.052\right)^{t}\ =\ 3\">\r<BR>\n" );
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document.write( "The only thing left is to take the logarithm of both sides (any base, it doesn't matter in the end) and solve for <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large t\">\r<BR>\n" );
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document.write( "Write back and let me know what you get for an answer.\r<BR>\n" );
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document.write( "John<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE e^{i\pi} + 1 = 0\"><BR>\n" );
document.write( "My calculator said it, I believe it, that settles it<BR>\n" );
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