document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=521306>Question 521306</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take an investment of $1,000 to double if the investment earns interest at the rate of 9%/year 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 #346414 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=346414\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal P =	1000							<BR>\n" );
document.write( "Amount=	2000							<BR>\n" );
document.write( "years=n								<BR>\n" );
document.write( "compounded (t)	12							<BR>\n" );
document.write( "Rate =	9				0.01			<BR>\n" );
document.write( "Amount =	P*((n+r)/n)^n							<BR>\n" );
document.write( "								<BR>\n" );
document.write( "2000	=	1000	*(	1	+	0.01	)^	n*t<BR>\n" );
document.write( "2	=	*(	1	+	0.01	)^	n*	12<BR>\n" );
document.write( "ln	2	=	12	n *ln	1.01			<BR>\n" );
document.write( "	0.69	=	12	0.01	*n			<BR>\n" );
document.write( "	7.73	=	n					<BR>\n" );
document.write( "m.ananth@hotmail.ca </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );