document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=523305>Question 523305</A>: <I><SPAN STYLE=\"word-break: break-all;\"> at an effective annual rate of 20%, how many years will be required to triple my initial investment to the nearest year? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #347283 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=347283\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> at an effective annual rate of 20%, how many years will be required to triple my initial investment to the nearest year?<BR>\n" );
document.write( "----<BR>\n" );
document.write( "A(t) = P(1 + (effective annual rate))^t<BR>\n" );
document.write( "----<BR>\n" );
document.write( "3P = P(1+0.20)^t<BR>\n" );
document.write( "---<BR>\n" );
document.write( "1.2^t = 3<BR>\n" );
document.write( "---<BR>\n" );
document.write( "t*log(1.2) = log(3)<BR>\n" );
document.write( "t = log(3)?log(1.2) <BR>\n" );
document.write( "t = 6.0257 years<BR>\n" );
document.write( "===================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "===================<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );