document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=513103>Question 513103</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long does it take $1700 to double if it is invested at 5% interest, compounded monthly? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #342879 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=342879\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font face=\"Times New Roman\" size=\"+2\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "The same amount of time it takes any amount of money to double at 5% compounded monthly.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ A\ =\ P\left(1\ +\ \frac{r}{m}\right)^{mt}\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Where <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large A\"> represents the Future Value, <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large P\"> represents 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 m\"> is the number of compounding periods in one year, and <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large t\"> is the number of years.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "You double your money when <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large \frac{A}{P}\ =\ 2\">, hence you need to solve for <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large t\"> where:\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \left(1\ +\ \frac{0.05}{12}\right)^{12t}\ =\ 2\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Do the arithmetic:\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \left(1.00417\right)^{12t}\ =\ 2\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Take the log of both sides (any base, doesn't matter)\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \ln\left(1.00417\right)^{12t}\ =\ \ln(2)\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ 12t\,\cdot\,\ln\left(1.00417\right)\ =\ \ln(2)\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ t\ =\ \frac{\ln(2)}{12\,\cdot\,\ln\left(1.00417\right)\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "The rest is calculator work.  Enjoy.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
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" );
document.write( "<div  DISABLED_style= \"text-align:center\"><a  rel=nofollow HREF=\"http://outcampaign.org/\" target=\"_blank\"><IMG STYLE=\"max-width:80%;\" src=\"http://cdn.cloudfiles.mosso.com/c116811/scarlet_A.png\" border=\"0\" alt=\"The Out Campaign: Scarlet Letter of Atheism\" width=\"143\" height=\"122\" /></a></div><BR>\n" );
document.write( "</font> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );