document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=476726>Question 476726</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How do I find out how many months it will take me to double my money at 5%APR?  What is the formula?  Thank you. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #326875 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=326875\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How do I find out how many months it will take me to double my money at 5%APR? What is the formula? <BR>\n" );
document.write( "2Ao = Ao(1+(r/n))^(nt)<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Ao is the amt you invest.<BR>\n" );
document.write( "r = 5%<BR>\n" );
document.write( "n is the number of times per year you compound the money<BR>\n" );
document.write( "t is the number of years.<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Example: Say you compound quadterly (4 times per year).<BR>\n" );
document.write( "2Ao = Ao(1+(0.05/4))^(4t)<BR>\n" );
document.write( "---<BR>\n" );
document.write( "2 = (1.0125)^(4t)<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Take the log of both sides to get:<BR>\n" );
document.write( "4t = log(2)/log(1.0125)<BR>\n" );
document.write( "4t = 55.8<BR>\n" );
document.write( "t = 13.94 years = 12*13.94 = 167.39 months<BR>\n" );
document.write( "==============================================<BR>\n" );
document.write( "cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "============ </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );