document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=534458>Question 534458</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An amount is invested in an account that offers 5% (percent) interest which is compounded annually. How long will it take for this amount to double? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #351560 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=351560\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Assume principal = 100<BR>\n" );
document.write( "Amount = 200\r<BR>\n" );
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document.write( "Principal P =	100							<BR>\n" );
document.write( "Amount=	200							<BR>\n" );
document.write( "years=n								<BR>\n" );
document.write( "compounded (t)	1							<BR>\n" );
document.write( "Rate =	5				0.05			<BR>\n" );
document.write( "Amount =	P*((n+r)/n)^n							<BR>\n" );
document.write( "								<BR>\n" );
document.write( "200	=	100	*(	1	+	0.05	)^	n*t<BR>\n" );
document.write( "2	=	*(	1	+	0.05	)^	n*	1<BR>\n" );
document.write( "ln	2	=	1	n *ln	1.05			<BR>\n" );
document.write( "	0.69	=	1	0.05	*n			<BR>\n" );
document.write( "	14.21	=	n\r<BR>\n" );
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document.write( "14.21 years\r<BR>\n" );
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document.write( "m.ananth@hotmail.ca					<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );